Ringgit Weakens Amid Anticipation of US Interest Rate Hike

The Malaysian ringgit weakened against major currencies as investors awaited a potential US interest rate hike. The currency dropped against the US dollar, euro, British pound, and Japanese yen, but held steady against the Philippine peso.

Despite the decline, the ringgit's performance was not unique to Malaysia, with other regional currencies also experiencing losses.

The anticipation of a US rate hike has been a major driver of market sentiment in recent weeks, leading to increased volatility in global currency markets.