The ringgit retreated from the previous day’s gains to open lower against the greenback today on rising US bond yields after the latest US economic data strengthened the view that interest rates would stay higher for longer. — Picture by Devan Manuel
KUALA LUMPUR, Oct 26 — The ringgit retreated from the previous day’s gains to open lower against the greenback today on rising US bond yields after the latest US economic data strengthened the view that interest rates would stay higher for longer.
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New home sales in the United States rebounded 12.3 per cent month-on-month to 759,000 units in September, which was higher than consensus estimates of 680,000 units. It was the highest level since February 2022.
At 9am, the ringgit slid to 4.7850/7895 against the greenback from Wednesday’s close of 4.7780/7830. — Bernama
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