In-depth reporting on Malaysia and the region.
Malaysia's second-quarter GDP growth of 6% — beating consensus estimates — is expected to underpin ringgit appreciation to RM4.07-4.08 next week, supported by resilient domestic spending and robust export performance.
Japan's yen surged past 158 against the US dollar, triggering speculation of potential currency market intervention as authorities attempt to stabilise the currency amid fiscal concerns.
The US dollar has reached a 39-year high above 163 yen, driven by safe-haven buying amid escalating Middle East tensions and expectations of higher US interest rates. Japan's warnings of potential intervention have failed to stem the currency's advance.
The ringgit opened stronger against most major currencies on Friday but retreated against the US dollar as risk aversion spread through markets, prompted by fresh American trade tariffs targeting Malaysia and 59 other nations.