KUALA LUMPUR, March 24 — The ringgit closed easier against the US dollar today as the greenback continued to regain its safe-haven currency appeal amid uncertainties surrounding the market.
SPI Asset Management managing partner Stephen Innes said the US dollar continued to find its strength on the back of hawkish stance from the US Federal Reserve , while concerns surrounding the geopolitical landscape are leading to risk aversion mode, hence increasing the demand for safe-haven assets.
“Unless there is a withdrawal of Russian troops from Ukraine, I think the US dollar will likely get stronger over the next couple of weeks as the Fed continues to front-load interest rates,” he told Bernama.
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