At 9am, the local currency was traded at 4.1380/1430 versus the greenback compared with 4.1320/1400 at Friday’s close. — AFP pic
AxiCorp chief global market strategist Stephen Innes, however, said the local note had been riding the strong yuan and broadly weaker US dollar coattails. “There has been no significant knock-on effect into the G-10 central banks from the People’s Bank of China’s intervention; any weakness in the ringgit could be bought as the prospect of a Joe Biden presidential bid and hopes for a vaccine bode well for the local note,” he told Bernama.
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