AI Summary
The Malaysian ringgit strengthened against the US dollar and other major currencies, closing at 4.2285/2345. This surge is attributed to persistent concerns about US fiscal policy, particularly following the House's approval of a tax and spending bill, which has amplified worries about the US credit outlook. This concern aligns with Moody's recent downgrade of the US sovereign rating. The ringgit also appreciated against other currencies, including the British pound, euro, Japanese yen, and several ASEAN currencies.
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