Tag: Exchange rates
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Ringgit at Seven-Year High on AI Optimism and Malaysia’s Growth Outlook
Malaysia’s ringgit climbs on AI-driven growth optimism The Malaysian ringgit surged to its strongest level in more than seven years, extending gains as investors bet on the nation’s improving growth outlook and its expanding role in the artificial intelligence (AI) supply chain. The currency rose as much as 0.8% against the dollar in early trading,…
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Rates Spark: Sterling Rates and US TIC Data
Overview: Sterling Back on the Move Sterling has cooled after a stronger run in recent weeks, as traders reassess the balance of risks facing the UK economy. A softer perception of the domestic outlook, particularly around the labor market, has tempered some of the early gains. Yet, the latest batch of monthly GDP data brought…
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Bessent’s Candid Call: Rare U.S. Verbal Support Lifts Korean Won Amid Slide
Overview: A Rare Intervention Sparks Market Reactions In a development that caught traders’ attention, Treasury Secretary Scott Bessent on Wednesday publicly acknowledged the sharp decline in South Korea’s won, framing it as excessive and warranting consideration from global policymakers. The comment, notable for its rarity, contrasted with the usual reticence of U.S. officials when discussing…
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Bessent Stirs Korean Won Rally with Rare Verbal Backing amid Weakness Concerns
Overview: A Rare Show of Support for the Korean Won In a notable shift for currency markets, Treasury Secretary Scott Bessent voiced rare verbal support for the Korean won on Wednesday, aiming to quell the deepening weakness that has driven the won toward its weakest level since 2009. While high-profile comments from U.S. officials regarding…
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Ringgit Dips Against USD but Rises Against Major Currencies Amid Geopolitical Tears and Fed Pressure
Ringgit Ties to Global Cues as USD Pressure Persists The Malaysian ringgit opened the trading session lower against the US dollar, reflecting cautious risk sentiment among investors amid ongoing geopolitical tensions and renewed expectations of Federal Reserve policy moves. Traders monitored headlines as geopolitical risk remained a volatile backdrop, while the Fed faced renewed calls…