Ringgit Fluctuates Against USD Amid Geopolitical Uncertainty and US Data
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Insights by Echo AI
The ringgit opened lower against the US dollar on Monday due to persistent sentiment towards a potential increase in US interest rates. It then closed lower on the same day before rebounding on Tuesday, influenced by Malaysia's sovereign credit rating being maintained at 'A-' by S&P Global Ratings. On Wednesday, the ringgit depreciated against the dollar again, affected by weaker US consumer data. Throughout the week, the ringgit also fluctuated against other major and ASEAN currencies.
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