Ringgit notes are seen at a money changer in Kuala Lumpur June 20, 2018. — Bernama picKUALA LUMPUR, March 5 — A combination of factors including the rise in 10-year US Treasury yield and China’s modest 2021 gross domestic product growth forecast have weighed on the ringgit’s performance against the US dollar today, despite firmer oil prices.
Axi chief global market strategist Stephen Innes said the conflicting indications in the market had impacted the performance of the local currency. He further explained that US bond yields will be the overriding factor for the ringgit and it will be a prudent to very cautious on ringgit risk until the market sees a top for US yields.
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