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Troubles Are Far From Over for One of Asia’s Worst Performing Currencies

  • Oil price support seen fading on OPEC+ output cuts tapering
  • Inflation data this week may provide cues on further rate cuts
Ringgit Falls Most in 3 Weeks, Bonds Drop on Fitch Outlook Cut

The Malaysian ringgit has been among the worst performing Asian currencies so far this year and its challenges are far from over.

Political and economic headwinds have buffeted the ringgit while a rebound in crude prices has been one of the few supporting factors for the oil-exporting nation. However, downside risks to oil are growing amid OPEC+ plans to taper output cuts, making the ringgit vulnerable to declines beyond its 4.23-4.25 per dollar support level.