KUALA LUMPUR, April 26 — The ringgit slipped further against the US dollar today in tandem with other Asian currencies as the greenback stayed firm after spiking higher overnight, on the prospect of higher United States (US) interest rates, despite slowing economic growth, a dealer said.
At 6pm, the local note was traded lower at 4.4565/4585 versus the greenback from 4.4480/4520 at Tuesday’s close.
The dealer said there had been increasing demand for the US dollar as a safe haven asset due to renewed concerns over the US banking sector and economy, following a string of weak corporate earnings and softer-than-expected consumer confidence data, which kept appetite for most risk-driven assets limited this week. — Bernama
