The Malaysian ringgit weakened against the U.S. dollar in the pre-European session on Monday, due to renewed worries about global economic growth following the U.S. Federal Reserve’s decision to keep interest rates at a record low last week.
Against the greenback, the ringgit fell to a 5-day low of 4.2668 from an early high of 4.2405. At last week’s close, the ringgit was trading at 4.2060 against the greenback.
If the ringgit extends its downtrend, it is likely to find support around the 4.40 area.
The material has been provided by InstaForex Company – www.instaforex.com