To extend losses ahead of key central banks’ decisions next week
The ringgit extended its weakening streak from last Friday through yesterday, depreciating to 4.44/USD despite a soft US jobs report. Geopolitical uncertainty, stemming from Syria's regime change and political turmoil in South Korea, has bolstered demand for the safehaven USD. This trend is further amplified by expectations of monetary policy divergence between the Fed and most G10 central banks. The USD also found support from surging optimism in the NFIB Small Business Index, reflecting US companies' enthusiasm for potential tax cuts and deregulation in 2025.
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