Malaysian Ringgit Set for Biggest Monthly Decline Since 2015 [Yahoo! Finance Canada]
OVERSEAS CHINSE UNSP/ADR (OVCHY)
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Source: Yahoo! Finance Canada
(Bloomberg) -- Malaysia's currency is on course for its worst month in more than nine years, as investors scale back on risk assets amid concerns over the US election. Most Read from Bloomberg The ringgit is down more than 6% against the dollar in October, putting it on pace for its biggest monthly loss since August 2015. The ringgit traded at 4.39 per dollar on Wednesday. The renewed strength in the dollar is battering Asian currencies, almost all of which have come under heavy pressure in October as traders reassess the pace of Federal Reserve interest-rate cuts and avoid risky assets in the run-up to the US election. But the ringgit is partly a victim of its own success: a 14% appreciation against the dollar in the last quarter, which made it Asia's best performer, ensured there was room for a correction this month, according to Oversea-Chinese Banking Corp. “The previous gain was significant; therefore there's more room for corrective play,” said Christopher Wong, a cur
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