Malaysian ringgit at lowest since Asia financial crisis

The Malaysian ringit hit new lows against the dollar, hammered by a capital flight fuelled by expected rises in US interest rates in 2017Malaysia’s ringgit hit its lowest level against the dollar since the Asian financial crisis as emerging-market currencies are hammered by a flight of capital fuelled by an expected rise in US interest rates next year. The greenback has soared since Donald Trump won the US election last month, with traders betting his plans for big infrastructure spending and tax cuts will fan inflation, forcing the Federal Reserve to tighten monetary policy. This in turn has put trade-reliant nations under pressure with their currencies feeling the strain.

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