Ringgit Rises Against US Dollar Amid US Bond Market Concerns

The Malaysian ringgit ended the week on a strong footing against the US dollar despite higher United States Treasury yields.

The local currency was supported by rising Malaysian yields and growing investor concerns that recent US bond-market intervention could weigh on the greenback.

According to Stephen Innes, global strategist at Quintex Intel, these measures could erode investor confidence in US assets, potentially putting pressure on the U.S. dollar.

'The concern is that efforts to suppress long-term US yields could eventually resemble a form of yield-curve management or financial repression which has historically weighed on the greenback,' he said.