KUALA LUMPUR (Jan 16): The Malaysian ringgit is benefiting from the weakening British pound to trade 1.32% higher against the sterling, as U.K. raised possibility to exit the European Union (EU) single market. As of 11.08 a.m., the ringgit was trading at RM5.3682 against the British pound. The ringgit traded between 5.0400 and 6.3046 against the sterling over the past one year. The weakening pound has also tested Asian markets, as most counters traded lower on Monday morning. "If it proves necessary, we have said we will consider time for implementation of new arrangements," he wrote.

Source: The Edge Markets January 16, 2017 04:00 UTC