By Siti Noor Afera Abu<\/p>\n\n\n\n
KUALA LUMPUR, Dec 23\u00a0(NNN-Bernama) — Malaysian ringgit retreated from\u00a0Thursday\u2019s gains to open lower\u00a0against the US dollar on Friday due to the\u00a0lack of interest in\u00a0the local currency\u00a0as the greenback strengthened on the possibility of another interest rate hike by the United States (US) Federal Reserve (Fed), a dealer said.<\/p>\n\n\n\n
At 9.05 am, the local note was traded at 4.4300\/4380 against the greenback from Thursday\u2019s close of 4.4215\/4255. <\/p>\n\n\n\n
SPI Asset Management managing director Stephen Innes opined that the Asian forex exchange will struggle as the market veers into risk aversion, due to the assumption that the Fed will continue hiking interest rates too aggressively which could send the global economy into recession.<\/p>\n\n\n\n
\u201cAlthough the ringgit\u2019s medium-term outlook remains favourable, I expect this to be another transient bump on the road due to external factors,\u201d he told Bernama.<\/p>\n\n\n\n
Meanwhile, the ringgit was traded higher against a basket of major currencies.<\/p>\n\n\n\n
The local note was traded slightly higher versus the Singapore dollar at 3.2718\/2784 from 3.2798\/2833 at Thursday\u2019s close and appreciated vis-a-vis the Japanese yen to 3.3401\/3464 from 3.3486\/3521 previously.<\/p>\n\n\n\n
The ringgit also strengthened against the British pound to 5.3257\/3354 from 5.3522\/3571 Thursday and firmed against the euro to 4.6909\/6994 from 4.7085\/7127.<\/p>\n\n\n\n
— NNN-BERNAMA<\/p>\n","protected":false},"excerpt":{"rendered":"
By Siti Noor Afera Abu KUALA LUMPUR, Dec 23\u00a0(NNN-Bernama) — Malaysian ringgit retreated from\u00a0Thursday\u2019s gains to open lower\u00a0against the US dollar on Friday due to the\u00a0lack of interest in\u00a0the local currency\u00a0as the greenback strengthened on the possibility of another interest rate hike by the United States (US) Federal Reserve (Fed), a dealer said. At 9.05 […]<\/p>\n","protected":false},"author":30,"featured_media":147241,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[215,288,300,318],"tags":[],"_links":{"self":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/204109"}],"collection":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/users\/30"}],"replies":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=204109"}],"version-history":[{"count":1,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/204109\/revisions"}],"predecessor-version":[{"id":204110,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/204109\/revisions\/204110"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/media\/147241"}],"wp:attachment":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=204109"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=204109"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=204109"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}