KUALA LUMPUR, March 9 — The ringgit closed lower today as investors were under pressure to sell risky assets as market sentiment was clouded by worries over stagflation.
SPI Asset Management managing partner Stephen Innes said the current situation is weighing on the ringgit. Meanwhile, the ringgit was traded lower against a basket of major currencies, except for Japanese yen.
Need some explanation: if the higher global oil price cause stagflation led to lower ringgit, does it impact other currencies as well vs. USD?
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