News Column

Malaysian Ringgit Slides To Near 3-week Low Against US Dollar

June 2, 2014

KUALA LUMPUR (Alliance News) - The Malaysian Ringgit drifted down against the US dollar in Asian deals on Tuesday as positive economic data from the US supported the latter.

While the US manufacturing sector activity expanded to 55.4 in May, construction spending increased 0.2% to an annual rate of USD953.5 billion in April, separate data showed Monday.

The ringgit declined to 3.2318 against the greenback, its lowest since May 16. On the downside, 3.24 is seen as next support level for the ringgit. The pair closed yesterday's deals at 3.2278.

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Source: Alliance News

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