KUALA LUMPUR: The ringgit extended last week’s gains to close higher against the US dollar today, supported by a weaker greenback and positive catalysts in the local market, dealers said.
At 6pm, the ringgit was quoted at 4.1500/1540 against the greenback from 4.1640/1670 at close on Friday.
A dealer said that the local and other emerging currencies were on the uptrend as growing optimism over US-China trade talks and upbeat US job data boosted global investors’ appetite for riskier assets.
He said that investors were also eagerly awaiting the outcome of Bank Negara Malaysia’s monetary policy meeting tomorrow, which was expected to provide some positive leads to further boost the economy.
Meanwhile, the local note traded higher against other major currencies today.
The ringgit strengthened against the Singapore dollar to 3.0571/0612 from 3.0649/0683 on Friday and advanced against the yen to 3.8288/8335 from 3.8538/8569.
It increased against the British pound to 5.3614/3678 from 5.3915/3963 and improved against the euro to 4.6326/6388 from 4.6420/6470. — Bernama
source https://www.thesundaily.my/business/ringgit-ends-higher-against-us-dollar-DE1574027
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