PETALING JAYA: The ringgit led the decline in emerging Asian currencies, as regional stocks retreated and investors sold out of high-yielding assets amid a global bond rout. However, the medium-term outlook for the ringgit is mixed, with some saying the current weakness is only a temporary phenomenon. Chong added that his group expected the ringgit to trade near RM4 against the greenback by year-end. “The bond market outlook seems to have turned less sanguine. The persistent global oil glut would continue to weigh on the prices of the commodity, which is a major revenue contributor to the Government.

Source: The Star September 14, 2016 23:15 UTC