KUALA LUMPUR: The ringgit traded in a narrow range as the US dollar continued to firm amid nervous sentiments after disappointing China and European economic data.
The long-dated US Treasury securities yielded higher by eight basis points to 4.26%, while the US Dollar Index rose 0.52% to 104.776 points. Meanwhile, the producer price index declined 7.6% in July, the third consecutive month of negative print. “The possibility of a rate hike pause should not be ruled out premised on the inflation trajectory. In that sense, this will support the US dollar more as the Federal Reserve is likely to keep a hawkish view on rates.
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