Ringgit stays under pressure, US debt deadlock weighs demand

The ringgit continued to remain under pressure as the outcome of the US debt ceiling talks remains highly uncertain despite inching closer to the early June deadline.

At 9am, the local note fell to a six-month low of 4.6280/6305 versus the US dollar compared with Thursday’s closing of 4.6245/6285.

Bank Muamalat Malaysia Bhd chief economist and social finance head Mohd Afzanizam Abdul Rashid said Fitch Ratings' move to put the US’ AAA credit rating on negative watch on the risk of...