Ringgit depreciates most in two weeks on global growth concern

Posted by Trading Advisor on 1:47 PM with No comments
Malaysia's ringgit fell the most in two weeks as Asian shares tracked Friday's losses in the US and Europe after the Federal Reserve's decision to keep interest rates unchanged reignited concern that global growth is deteriorating.
 
myr1.jpgOdds of a Fed rate increase at this year's two remaining meetings receded after Chair Janet Yellen noted China's slowing economy and financial market turmoil when she left borrowing costs near zero. The ringgit is already Asia's worst-performing currency in 2015 as falling Brent crude prices weigh on the oil exporter's earnings.
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