Ringgit ends higher against US dollar, regional currencies

KUALA LUMPUR: The ringgit rebounded from a four-day losing streak to end higher today, driven by improved sentiment as the US debt ceiling deal was resolved and the expectation that the Federal Reserve will pause interest rate hikes in June.

At 6pm, the local note appreciated to 4.5745/4.5785 against the greenback compared to Thursday’s close of 4.6110/4.6165. Bank Muamalat Malaysia Bhd chief economist Afzanizam Abdul Rashid said it appears that the US debt limit stalemate has been resolved, paving the way for the US government to honour their debt obligations and spending programmes.

“The ringgit appreciated against the US dollar to RM4.5745 from the previous day’s closing of RM4.6110. The immediate resistant level is currently situated at RM4.5491,” he told Bernama. “Perhaps next week, the US dollar/ringgit might move towards this direction as the Federal Reserve is expected to be guarded in their assessment at the upcoming Federal Open Market Committee meeting on June 13 to 14,” he said.It rose vis-a-vis the British pound to 5.7323/5.7373 from 5.7407/5.7475 at yesterday’s close, increased against the euro at 4.9254/4.9297 from 4.9356/4.9415 and was slightly higher against the Japanese yen to 3.2957/3.2989 from 3.2995/3.3036 yesterday.

Source: Loan Digest (loandigest.net)

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.

PAS MP: Full-time finance minister needed to tackle depreciating ringgitFull story: Despite measures taken by Bank Negara Malaysia, the prime minister's attention is divided, hindering effective solutions, Bachok MP Mohd Syahir Che Sulaiman claimed.
Source: malaysiakini - 🏆 20. / 51 Read more »

Ringgit may hover around RM4.60-RM4.61 against US dollar on cautious sentimentThe local note traded higher against the US dollar in the early session today following positive developments on the United States debt limit talks.
Source: fmtoday - 🏆 5. / 72 Read more »

Ringgit strengthens v dollar | The Malaysian InsightAnalyst says cautious sentiments may prevail in the foreign exchange market today.
Source: msianinsight - 🏆 8. / 63 Read more »

Full-time finance minister needed to tackle depreciating ringgit – PAS MPWe must also implement measures to complement central bank’s moves, Syahir says.
Source: malaysiakini - 🏆 20. / 51 Read more »

Krisis di AS jadi faktor penyusutan nilai ringgit, kata Rafizi | The Malaysian InsightMenteri ekonomi berkata keadaan itu berada di luar kawalan kerajaan.
Source: msianinsight - 🏆 8. / 63 Read more »

Ringgit mengukuh berbanding dolar AS pada sesi awal urus niaga | The Malaysian InsightBagaimanapun, sentimen berhati-hati mungkin muncul dalam pasaran pertukaran asing hari ini, kata penganalisis.
Source: msianinsight - 🏆 8. / 63 Read more »