The Malaysian ringgit fell today on concerns that probable stimulus reduction by the US Federal Reserve will spur investors to pull their money from emerging markets.
The two-day monetary policy meeting of the Fed ends today and it is expected that the US central bank will trim the monthly asset purchases by another $10 billion. Market analysts say that traders are already pricing in an interest rate hike. As a result, the ringgit fell today together with other Asian currencies, including the Indonesian rupiah.
USD/MYR went up from 3.2218 to 3.2336 as of 12:37 GMT today.
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