Recent fall in RM could set tone for more weakness

Singapore

THE gathering speed in the weakening of the Chinese yuan, stubbornly low oil prices and stronger greenback amid rising tension in the Middle East has hit Asian currencies badly, although none so hard as the Malaysian ringgit.

The ringgit led the slide in Asia this week on fears that a slowing China will hurt commodity-reliant Malaysia, given the size of its trade and investment exposure - including large bulk buying of its palm oil - with the world's second largest economy.