KUALA LUMPUR: The ringgit continued its downtrend to trade lower against the US dollar in the early session today, with more investors turning to safe-haven currencies due to emerging concerns over the Covid-19 outbreak, dealers said.
A dealer said that the greenback continued its uptrend today as the US Federal Reserve announced that it would pump more than US$1 trillion into the financial system amid the economic fallout from the Covid-19 outbreak, as a significant step to provide liquidity to financial markets. “These changes are being made to address highly unusual disruptions in Treasury financing markets associated with the coronavirus outbreak.
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