Malaysian Ringgit Declines After U.S. Subprime Concern Spurs Risk Aversion

(Bloomberg) -- Malaysia's ringgit fell for a third
day on speculation losses related to U.S. subprime mortgages and
hedge funds will keep global investors away from emerging-market
assets. Bonds dropped.

The local currency headed for its biggest drop in a week
after losses reported by Bear Stearns Cos. hedge funds spurred
safe-haven demand for U.S. Treasuries. The risk premium on
emerging-market bonds widened to the highest in more than a week.


Read more at Bloomberg Currencies News