The Malaysian ringgit rose somewhat today, but was still heading to weekly loss as the risk aversion sentiment on the market deterred Forex traders from buying risky currencies.
The Federal Reserve released the minutes of its last January policy meeting this week, showing that some members of the board talked about varying pace of asset purchases. Traders interpreted such words as a sign that the Fed is going to slow the purchases and such view drove the FX market into the risk-off mode. Fears of recession in Europe were not helping the risk sentiment either.
USD/MYR went down from 3.1115 to 3.1025 as of 15:54 GMT today.
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