Ringgit Suffers from Anticipation of Fed’s QE End
The Malaysian ringgit fell today as speculations about an end to US Federal Reserve’s quantitative easing continued to eat away risk appetite, spooking investors from riskier currencies.
Last week’s comments of Fed board members suggested that reduction of stimulus is indeed probable. Such possibility was undermining strength of higher-yielding currencies and continued to do so today. Yesterday’s positive data from the United States increased chances for tighter monetary policy.
USD/MYR advanced from 3.0448 to 3.0783 as of 10:31 GMT today.
If you have any questions, comments or opinions regarding the Malaysian Ringgit, feel free to post them using the commentary form below.
Earlier News About the Malaysian Ringgit:
- Slower Malaysia's Growth Weakens Ringgit (2013-05-17)
- Ringgit Rallies Most Since 2010 After Elections (2013-05-06)
- Malaysian Ringgit Rallies on Hopes Elections Will Stop Capital Outflows (2013-04-05)
- Ringgit Gains, Still Heads to Weekly Loss (2013-02-22)
- Ringgit Falls on Concern over Currency War (2013-01-25)