The ringgit closed lower against the US dollar as investors shifted toward the greenback following renewed expectations that US interest rates could remain elevated. Analysts noted that global monetary policy uncertainty and cautious market sentiment continued to influence regional currencies.
Key Developments
- Ringgit weakened against the US dollar.
- Stronger US dollar supported by investor demand.
- Markets await additional US economic data.
Business Impact
- Importers may face higher purchasing costs.
- Export-oriented companies could benefit from a weaker ringgit.
- Businesses may increase currency hedging activities.
