KUALA LUMPUR, Feb 16 — The ringgit ended higher against the US dollar for the second consecutive day, thanks to the easing geopolitical tension in Eastern Europe which helped to cushion the risk assets and emerging market currencies against further losses, as well as stabilise crude oil at around US$94 per barrel.Sentiment in the equity market had also improved as the FBM KLCI index rose above the 1,600 threshold due to continuous buying support in selected heavyweights.
He also noted that the US economic data suggests that the US Federal Reserve is on track for a rate hike in March, possibly leading to a 50-basis point increase within a single meeting next month. Mohd Afzanizam said the case for a stronger US dollar in the immediate term remains visible and that the ringgit could stay at the present level.
Meanwhile, the ringgit was traded mostly lower against major currencies, except against the yen where it rose to 3.6174/6191 from 3.6193/6213 yesterday. Against the Singapore dollar, the local note declined to 3.1123/1140 from 3.1097/1114 at the close yesterday, slipped to 5.6745/6772 vis-a-vis the British pound from 5.6715/6742 yesterday, and fell to 4.7596/7618 versus the euro from 4.7487/7510 previously. — Bernama
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ringgit inches up against US dollar on relief over geopolitical concern | Malay MailKUALA LUMPUR, Feb 15 — The ringgit inched up against the US dollar on relief over the geopolitical concern, while oil prices remained lower at US$92.83 (RM389) per barrel, down by 2.76 per cent. At 6pm, the local note stood at 4.1850/1870 versus the US dollar from 4.1885/1920 recorded yesterday....
Source: malaymail - 🏆 1. / 86 Read more »
Two former US police officers to testify in own defence about George Floyd arrest | Malay MailST. PAUL (Minnesota), Feb 15 — Two former Minneapolis police officers, Tou Thao and J. Alexander Kueng, told a US judge yesterday they planned to testify in their own defence against federal charges that they violated George Floyd’s civil rights during a deadly 2020 arrest. A lawyer for Thomas...
Source: malaymail - 🏆 1. / 86 Read more »
Taliban warn will ‘reconsider’ policy towards US if assets not freed | Malay MailKABUL, Feb 15 — Afghanistan will be forced to reconsider its policy towards the United States unless Washington reverses a decision to freeze part of the country’s assets as compensation for victims of the 9/11 attacks, the Taliban said yesterday. US President Joe Biden last week seized US$7...
Source: malaymail - 🏆 1. / 86 Read more »
Musk donated over US$5.7b in Tesla shares to charity in Nov | Malay MailSAN FRANCISCO, Feb 15 ― Tesla chief executive Elon Musk donated a total of 5,044,000 shares in the world's most valuable automaker to a charity from November 19 to November 29 last year, its filing with US Securities and Exchange Commission showed yesterday. The donation was worth US$5.74 billion...
Source: malaymail - 🏆 1. / 86 Read more »
Climate-boosted drought in western US worst in 1,200 years | Malay MailPARIS, Feb 15 — The megadrought that has parched southwestern United States and parts of Mexico over the last two decades is the worst to hit the region in at least 1,200 years, researchers said yesterday. Human-caused global heating accounts for more than 40 per cent of the dry spell’s...
Source: malaymail - 🏆 1. / 86 Read more »
US defence secretary heads to Europe for Nato talks, visit troops | Malay MailWASHINGTON, Feb 15 — US Defence Secretary Lloyd Austin heads to Brussels today for talks with Nato allies and to visit US troops in Poland as Washington remains focused on the risk of a large-scale Russian invasion of Ukraine. Austin’s departure came as Russia said some of its military units...
Source: malaymail - 🏆 1. / 86 Read more »