Ringgit breaks five-day winning streak to end lower against US dollar

22/6/2022 6:25:00 PM

Ringgit breaks five-day winning streak to end lower against US dollar

Ringgit Vs Us Dollar

Ringgit breaks five-day winning streak to end lower against US dollar

KUALA LUMPUR, June 22 — The ringgit snapped a five-day winning streak to close lower today due to profit taking, said an analyst. At 6pm, the local currency slipped against the...

Wednesday, 22 Jun 2022 6:39 PM MYTKUALA LUMPUR, June 22 — The ringgit snapped a five-day winning streak to close lower today due to profit taking, said an analyst.At 6pm, the local currency slipped against the greenback to 4.4050/4065 from yesterday’s close of 4.3945/3980.

The analyst said the ringgit would continue to see volatility against its US counterpart as growing fears of a recession make market participants defensive, leading to a higher demand for safe-haven currencies.“In addition, the falling oil prices on worries that demand for the commodity will take a hit from a possible recession, also weighed on the ringgit’s performance today,” he said.

Read more:
Malay Mail »

Anwar and his team - full list

PUTRAJAYA: Prime Minister Datuk Seri Anwar Ibrahim unveiled the list of deputy ministers in a live telecast on Friday (Dec 9). Read more >>

Ringgit opens lower against US dollarKUALA LUMPUR, June 22 — The ringgit retracted from yesterday’s gains to open lower against the US dollar this morning, as investors continue to seek shelter in the safe-haven...

Ringgit opens marginally higher against US dollarKUALA LUMPUR (June 21): The ringgit opened marginally higher against the US dollar today despite fragile market sentiments over expectations of an aggressive monetary tightening by the United States Federal Reserve (Fed) that would take a toll on the economy, said a dealer.At 9 am, the local currency traded at 4.3970/4015 against the greenback from yesterday's close of 4.3985/4015.Bank Islam chief economist Dr Mohd Afzanizam Abdul Rashid said talks of a possible recession would also make market participants to

Ringgit opens marginally higher against US dollarKUALA LUMPUR, June 21 ― The ringgit opened marginally higher against the US dollar today despite fragile market sentiments over expectations of an aggressive monetary... lol 'marginally higher' my ass

Ringgit continues uptrend against US dollarKUALA LUMPUR, June 21 — The ringgit continued its uptrend against the US dollar at the close for the fifth straight trading day today, supported by buying demand and the...

US home sales slide as prices break above US$400,000 for first timeWASHINGTON (June 21): US existing home sales tumbled to a two-year low in May as prices jumped to a record high — topping the US$400,000 mark for the first time — and mortgage rates increased further, pushing out entry-level buyers from the market.Despite the fourth straight monthly drop in sales and declining affordability, reported by the National Association of Realtors on Tuesday, the housing market remains fairly hot, with properties typically staying on the market for a record low 16 days. With

Lebanon FX reserves down US$2.2b in 2022, US$11b left, says central bank governorBEIRUT, June 22 — Lebanese central bank governor Riad Salameh said yesterday the bank’s foreign currency reserves had dropped by US$2.2 billion (RM9.67 billion) so far in 2022...

for the latest news you need to know.for the latest news you need to know.A KUALA LUMPUR (June 21): The ringgit opened marginally higher against the US dollar today despite fragile market sentiments over expectations of an aggressive monetary tightening by the United States Federal Reserve (Fed) that would take a toll on the economy, said a dealer.for the latest news you need to know.

Wednesday, 22 Jun 2022 6:39 PM MYT KUALA LUMPUR, June 22 — The ringgit snapped a five-day winning streak to close lower today due to profit taking, said an analyst. At 6pm, the local currency slipped against the greenback to 4. At 9.4050/4065 from yesterday’s close of 4.3985/4015.3945/3980.3970/4005 against the greenback from Tuesday’s close of 4. The analyst said the ringgit would continue to see volatility against its US counterpart as growing fears of a recession make market participants defensive, leading to a higher demand for safe-haven currencies. Bank Islam chief economist Dr Mohd Afzanizam Abdul Rashid said talks of a possible recession would also make market participants remain defensive, leading to a higher demand for safe-haven currencies.

“In addition, the falling oil prices on worries that demand for the commodity will take a hit from a possible recession, also weighed on the ringgit’s performance today,” he said. Bank Islam chief economist Dr Mohd Afzanizam Abdul Rashid said the ringgit would continue to linger at the current level, while fears over a further tightening by the United States (US) Federal Reserve (Fed) and the subsequent impact on the economy are expected to remain in the near future. At the time of writing, benchmark Brent crude oil stood at US$109.8 per barrel. Nonetheless, the ringgit was traded higher against a basket of major currencies. However, the ringgit was traded higher against a basket of major currencies. The local note appreciated against the British pound to 5.3894/3937 from Tuesday’s close of 5. According to a news report, the Fed is front-loading its interest rate hikes and sending the Fed Funds Rate (FFR) to a higher peak level than the last interest rate hike cycle’s peak of 2.

3966/3984 from yesterday’s close of 5.4035/4078 and strengthened versus the Singapore dollar to 3.1706/1734 from 3.1707/1722 from 3.1738/1768 previously. The ringgit also went up against the euro to 4. It also rose against the euro to 4.6314/6361 from yesterday's close of 4.

6332/6348 from 4.6441/6478 and strengthened vis-a-vis the Japanese yen to 3.6441/6478 yesterday and gained vis-a-vis the Japanese yen to 3.2392/2408 from 3.2448/2477 previously.2448/2477. — Bernama Advertisement .2627/2652.