The dollar fell more than 1% against major currencies on Tuesday after U.S. consumer price data showed the pace of inflation moderating further in October, increasing the odds that the Federal Reserve is done hiking interest rates.
Asian shares edged higher on Tuesday ahead of a crucial U.S. inflation report that could heavily influence the Federal Reserve's policy outlook, while the fragile yen flirted with 33-year lows, putting it back in the intervention zone.
Oil prices inched up on Tuesday on expectations of healthy market fundamentals, following an OPEC report saying demand remains strong, and concerns that supplies might be disrupted as the U.S. cracks down on Russian oil exports.
The U.S. dollar traded largely unchanged in early European trade Tuesday ahead of the latest inflation data that could determine the path of U.S. monetary policy, while sterling gained as U.K. workers continued to receive healthy wage increases.
Malaysia’s domestic demand is expected to remain upbeat in the fourth quarter of this year supported by a resilient labour market, easing inflationary pressure, a rise in tourism activities and supportive economic policies, said MIDF Research.
Closer diplomatic relations between Malaysia and the three Nordic countries, namely Norway, Sweden and Finland, open up opportunities to further expand bilateral trade relations.