The Malaysian ringgit weakened against the U.S. dollar in the Asian session on Monday, as investor sentiment subdued on the increased prospects of a hike in U.S. interest rate after strong jobs growth data from the U.S.
Against the greenback, the ringgit fell to a 6-year low of 3.6910 from an early high of 3.6765. At Friday’s close, the ringgit was trading at 3.6825 against the greenback.
If the ringgit extends its downtrend, it is likely to find support around the 3.71 area.
This is as a result of a European Court of Justice (ECJ) judgment made versus Ireland in 2009
(Case C-188/ 08) in regard to the management of domestic wastewater treatment systems.
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