Fed rate-hike odds surge; ringgit slips to 4.0845, KLCI loses 1,680 mark
The ringgit closed at 4.0845 against the US dollar, a one-month low, as markets priced a 90% chance of a Federal Reserve hike this week. The FBM KLCI fell 18.80 points or 1.11% to 1,679.21, losing the 1,680 level. Analysts warn hot-money outflows could pressure the ringgit, Malaysian equities, bond yields and rate-sensitive sectors such as REITs, property and high-growth tech.