US Dollar (USD)

Analyst Sim Moh Siong has kept his 12-month gold price target unchanged at US$2,900 ($3,955.43)/oz.

Gold eased, pressured by a rising US dollar after President-elect Donald Trump warned the so-called BRICS nations that he would require commitments that they would not move to create a new currency.

The president-elect favours a weaker US dollar, which would make US goods cheaper for the rest of the world, although Wall Street banks think he is unlikely to get his wish.

Persistent weakness in the yen may also prompt the Bank of Japan to consider raising interest rates sooner than expected.

The ringgit is down more than 6% against the US dollar in October, putting it on pace for its biggest monthly loss since August 2015. The ringgit traded at 4.39 per US dollar on Wednesday.

The yen dropped as much as 0.3% to trade a 150.08 per US dollar, a level last seen on Aug 1.

“You leave the dollar and you’re not doing business with the [US] because we're going to put a 100% tariff on your goods.”

The future of the dollar is split: is its role as the global reserve currency declining or does it remain the undisputed currency?

The dollar’s role in international payments has never been stronger, according to the latest transaction data compiled by Swift.

The US currency is teetering at the lowest level in more than a year after bets that the US Fed will stop hiking interest rates.