KUALA LUMPUR: The ringgit extended last Friday’s upward momentum to trade higher against the US dollar in the early session today on renewed buying interest.
AxiCorp global chief market strategist Stephen Innes said the market reacted positively to Sunday’s announcement of the Recovery Movement Control Order by Prime Minister Muhyiddin Yassin. The ringgit also rebounded as oil price rose above US$40 per barrel, supported by oil nations’ decision to extend production cuts.Meanwhile, the ringgit was traded mixed against a basket of benchmark currencies.
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