At 6pm, the local note was trading at 4.3150/3250 compared with yesterday’s close of 4.3250/3400. — Reuters pic
However, oil prices may not be able to hang on as the Covid-19 pandemic could continue to suppress global demand for crude, an analyst told Bernama. “But this may be temporary. With so many caveats supporting the data, it could be worthless due to a higher level of inaccuracy in reporting, which explains the muted global market reaction,” said AxiCorp global chief market strategist Stephen Innes.
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