The ringgit traded higher against the Singapore dollar to 3.0384/0420 from 3.0410/0458 last Friday but fell versus the yen to 3.9076/9124 from 3.9042/9100 previously. — Reuters pic
“Such a narrative may have bolstered sentiment for the ringgit since the central bank’s policy decision, with the domestic unit being Asia’s best performer against the US dollar over the past two days , despite Brent futures sinking back below the psychologically-important US$40 per barrel mark. “To the upside, US dollar/ringgit’s immediate resistance line can be drawn at 4.1683, with stronger resistance set to arrive at 4.1763, having already proved its worth earlier this week,” he added.
“While the ringgit is still cheap and enjoys a yield advantage, the slippery slope for oil prices notwithstanding, the not-so-small matter of the World Government Bond Index by FTSE Russell will occur later this month,” he added.
Source: News Formal (newsformal.com)
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