Soros?*
From Bloomberg, February 18:
- Exports dropped a tenth consecutive month in December
- Trade, inflation data due this week will be on traders’ radar
The ongoing slide in the ringgit puts it a whisker away from a record low, and continued weakness in Malaysia’s exports as well as dollar strength may just push the currency past that level.
The Malaysian ringgit is about 2% away from reaching 4.8850 per dollar, a level last seen in 1998 when the Asian financial crisis ravaged the region’s currencies. The local currency has dropped nearly 4% this year.
“There is a risk that the ringgit will reach a new all-time low,” said Khoon Goh, head of Asia research at Australia & New Zealand Banking Group. “Exports are not recovering unlike those in other Asian economies and economic growth may remain lackluster.”...
....MUCH MORE
*Asharq Al-Awsat captures some of the name-calling and such between the hedge fund guy and the Prime Minister:
