Ringgit, baht lead Asian FX lower as dollar firms on trade optimism

Ringgit, baht lead Asian FX lower as dollar firms on trade optimism

KUALA LUMPUR: The Malaysian ringgit and Thailand's baht led losses among subdued Asian currencies on Friday, as a firmer dollar weighed on sentiment, while regional shares steadied after a US-UK trade deal sparked hopes for broader diplomatic progress. © New Straits Times Press (M) Bhd

Ringgit likely to stay weaker next week amid US-China trade deal optimism

KUALA LUMPUR, May 10 — The ringgit is expected to stay weaker in the near term, given the optimism that a trade deal between the United States (US) and China, and perhaps the rest of the world, would be achieved within the 90-day pause period. Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said that the US-China talks by the end of the week may have spurred interest in the greenback. “China’s trade data during April showe…

Thai baht weakens beyond 33 to the dollar, offering short-term boost for tourists—but remains volatile and unpredictable

Weaker baht, stronger spending? As the Thai currency slips past 33 to the dollar, foreign tourists may get more bang for their buck—just as the fragile tourism sector needs a boost. But how long will it last amid global uncertainty? PATTAYA, Thailand – The Thai baht opened at 33.02 THB to the dollar on May 9, weakening from 32.83 THB the previous day. The currency has been on a continuous decline, surpassing the key 33.00 mark, and is expected t…