{"id":15865,"date":"2022-12-20T21:47:22","date_gmt":"2022-12-20T13:47:22","guid":{"rendered":"https:\/\/newmalaysiatimes.com\/?p=15865"},"modified":"2022-12-20T21:47:23","modified_gmt":"2022-12-20T13:47:23","slug":"ringgit-slips-as-recession-worries-trigger-risk-off-sentiment","status":"publish","type":"post","link":"https:\/\/newmalaysiatimes.com\/?p=15865","title":{"rendered":"Ringgit slips as recession worries trigger risk-off sentiment"},"content":{"rendered":"\n

KUALA LUMPUR, Dec 20<\/strong> — The ringgit ended lower for the fourth\u00a0straight session against the US dollar today,\u00a0in line with fresh recession fears following\u00a0aggressive monetary policy moves by central banks globally.<\/p>\n\n\n\n

At 6 pm, the local currency was traded at 4.4315\/4350 against the greenback compared with 4.4250\/4300 at the close on Monday.<\/p>\n\n\n\n

Former Federal Reserve official William Dudley reportedly\u00a0said it was likely that interest rates could go higher even as the United States unemployment rate began\u00a0to inflate.<\/p>\n\n\n

\n
\"ringgit\"<\/figure>\n<\/div>\n\n\n

A trader said the market was also in a cautious stance for most of the day as investors await the Bank of Japan (BoJ) policy announcement.<\/p>\n\n\n\n

In a surprise move, the BoJ said it would be widening the yield target band, allowing the yields on 10-year government bonds to move up or down within 50 basis points around its zero per cent target, wider than the previous 25 basis points band. <\/p>\n\n\n\n

At home, the latest inflation print will also be released this week.<\/p>\n\n\n\n

Meanwhile, the ringgit was traded mostly lower against a basket of major currencies.<\/p>\n\n\n\n

The local note was lower versus the Singapore dollar to 3.2816\/2847 from 3.2633\/2674 at Monday\u2019s close, depreciated vis-a-vis the Japanese yen to 3.3531\/3565 from 3.2515\/2554, and weaker versus the euro to 4.7133\/7171 from 4.7016\/7069.<\/p>\n\n\n\n

However, it rose against the British pound to 5.3834\/3876 from 5.4043\/4104 yesterday.<\/p>\n\n\n\n

NMT<\/a> as reported by Bernama<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

KUALA LUMPUR, Dec 20 — The ringgit ended lower for the fourth\u00a0straight session against the…<\/p>\n","protected":false},"author":1,"featured_media":14960,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17,524],"tags":[],"class_list":["post-15865","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-nation"],"featured_image_urls":{"full":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/09\/Untitled-design.png",940,788,false],"thumbnail":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/09\/Untitled-design-150x150.png",150,150,true],"medium":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/09\/Untitled-design-300x251.png",300,251,true],"medium_large":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/09\/Untitled-design-768x644.png",640,537,true],"large":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/09\/Untitled-design.png",640,537,false],"1536x1536":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/09\/Untitled-design.png",940,788,false],"2048x2048":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/09\/Untitled-design.png",940,788,false],"newsium-slider-full":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/09\/Untitled-design.png",940,788,false],"newsium-featured":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/09\/Untitled-design.png",940,788,false],"newsium-medium":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/09\/Untitled-design.png",567,475,false]},"author_info":{"info":["Editor"]},"category_info":"Economy<\/a> Nation<\/a>","tag_info":"Nation","comment_count":"0","_links":{"self":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/15865","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15865"}],"version-history":[{"count":1,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/15865\/revisions"}],"predecessor-version":[{"id":15866,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/15865\/revisions\/15866"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/media\/14960"}],"wp:attachment":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15865"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15865"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15865"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}