The Malaysian ringgit weakened against the U.S. dollar in the Asian session on Monday, as dollar rose amid growing expectations that U.S. interest rates may rise next month.
Against the greenback, the ringgit fell to nearly a 5-week low of 4.3680 from an early high of 4.3070. At Friday’s close, the ringgit was trading at 4.3135 against the greenback.
If the ringgit extends its downtrend, it is likely to find support around the 4.45 area.
The material has been provided by InstaForex Company – www.instaforex.com