KUALA LUMPUR: The ringgit traded lower against the US dollar today as demand for the safe-haven greenback rose across the board amid worries over the worsening global economic outlook.
An analyst said last week’s US initial jobless claims, which has doubled to 6.65 million following Covid-19 impact to employment has driven investors to seek shelter in the greenback. Meanwhile, AxiCorp global chief market strategist Stephen Innes said the jump in crude oil price should see the ringgit trade on a positive trend, but not today.
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