Malaysia’s ringgit fell for a fourth day, the longest losing streak in a month, as U.S. budget talks damped demand for riskier assets. Bonds retreated.
The U.S. Senate will hold a test vote today on legislation passed by the House of Representatives to cover federal spending through Dec. 15 and choke off funds for President Barack Obama’s health-care law. Malaysia’s plan to seek approval for about $4.3 billion in extra spending could derail the government’s target to reduce the budget deficit to 4 percent in 2013 from 4.5 percent last year, according to Hong Leong Bank Bhd.
“The U.S. still has the budgetary discussions which are going on,” said Andy Ji, a Singapore-based currency strategist at Commonwealth Bank of Australia. “There’s a pare-back in risk appetite.”
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