KUALA LUMPUR: With no sign of de-escalation in the Middle East conflict, the ringgit came under pressure to open lower against the US dollar today.
The 10-year Treasury yield broke above 4.9% this week, the first time since 2007, further boosting the US dollar’s appearance. The longer-term bond yields have been an important driving factor in this tightening, Powell said in remarks at the Economic Club of New York Luncheon.
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