Malaysian Ringgit Falls To 6-day Low Against U.S. Dollar
August 29 2016 - 9:06PM
RTTF2
The Malaysian ringgit weakened against the U.S. dollar in the
Asian session on Tuesday.
In economic news, data from the Department of Statistics showed
that Malaysia's producer price index dropped 2.1 percent
year-over-year in July, which was worse than the 1.3 percent
decline in June. On a monthly basis, producer prices slid 0.9
percent from June, when it increased by 0.4 percent.
Against the greenback, the ringgit fell to a 6-day low of 4.0524
from an early high of 4.0362. At yesterday's close, the ringgit was
trading at 4.0450 against the greenback.
If the ringgit extends its downtrend, it is likely to find
support around the 4.10 area.
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