Malaysian ringgit hits 3-year low on Fed tapering view

The Malaysian ringgit fell to its lowest in more than three years on Thursday as the US Federal Reserve looked set to taper its asset-buying programme next month. -- FILE PHOTO: BLOOMBERG
The Malaysian ringgit fell to its lowest in more than three years on Thursday as the US Federal Reserve looked set to taper its asset-buying programme next month. -- FILE PHOTO: BLOOMBERG

SINGAPORE (REUTERS) - The Malaysian ringgit fell to its lowest in more than three years on Thursday as the US Federal Reserve looked set to taper its asset-buying programme next month.

The ringgit lost as much as 0.8 percent to 3.3200 per dollar, the weakest since June 2010.

On a technical chart, the Malaysian currency is seen weakening to 3.3345, the 50.0 percent Fibonacci retracement of its appreciation between 2009 and 2011.