The Malaysian ringgit weakened against the U.S. dollar in the Asian session on Wednesday amid risk aversion, due to falling commodity prices, weak factory data out of China and persistent uncertainty related to the Federal Reserve’s rate hike plans.
Against the greenback, the ringgit fell to nearly a 2-week low of 4.3551 from yesterday’s closing value of 4.3000.
If the ringgit extends its downtrend, it is likely to find support around the 4.39 area.
The material has been provided by InstaForex Company – www.instaforex.com