Fresh demand puts a positive spin on ringgit trade at the start of a new week.― Picture by Sayuti Zainudin
KUALA LUMPUR, Sept 7 — The ringgit rebounded to open slightly higher against the US dollar today on renewed demand as the outlook for the greenback remained bearish, said a dealer. At 9.10 am, the local currency was quoted at 4.1450/1500 against the greenback from last Friday’s close of 4.1470/1520. AxiCorp chief global market strategist Stephen Innes said the local unit could drift higher despite the US dollar being more generally bought last week.Innes said with the Federal Reserve unambiguously in a lower for a longer stance, traders are still interested in re-engaging in carrying and “risk-on” trades with links to China's performance.
“As we suggested two weeks ago, Asean currency laggards with more robust beta and enduring trade ties with China, like the ringgit, should continue to trade well on a catch-up basis,” he added.It went up against the Singapore dollar to 3.0371/0410 from last Friday's 3.0410/0458 and was firmer against the yen at 3.8968/9026 from 3.9042/9100. — Bernama
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
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.
Dollar dips as market recovers from weak US jobs data | Malay MailLONDON, Sept 5 — As risk assets recovered yesterday afternoon, the safe-haven US dollar dipped, retracing gains made on safe-haven demand following a Labor Department report that job growth slowed further in August, threatening the economy’s recovery from the Covid-19 pandemic. Employment...
Source: malaymail - 🏆 1. / 86 Read more »
Top-ranked Ko won't defend title at LPGA's first 2020 US major | Malay MailLOS ANGELES, Sept 5 ― Top-ranked reigning champion Ko Jin-young of South Korea will not defend her title at next week's LPGA ANA Inspiration, which will feature eight of the world's top 10 women's golfers. A field of 106 players was named yesterday for the 49th edition of the women's major...
Source: malaymail - 🏆 1. / 86 Read more »
BNM’s international reserves at US$104.4b as at Aug 28, 2020 | Malay MailKUALA LUMPUR, Sept 4 — Bank Negara Malaysia’s (BNM) international reserves amounted to US$104.4 billion as at August 28, 2020, slightly higher compared with US$104.3 billion as at Aug 14, 2020. “The reserves position is sufficient to finance 8.6 months of retained imports and is 1.1 times...
Source: malaymail - 🏆 1. / 86 Read more »
Zverev beats Mannarino after delay over health protocols at US Open | Malay MailNEW YORK, Sept 5 ― Alexander Zverev feared his tie with Adrian Mannarino may not go ahead today due to Covid-19 protocols but the German secured a 6-7(4) 6-4 6-2 6-2 win in a match delayed almost three hours due to talks between organisers and New York health officials. The US Open third-round...
Source: malaymail - 🏆 1. / 86 Read more »
Iran’s friends should have defied US sanctions during pandemic, says President Rouhani | Malay MailTEHRAN, Sept 5 — Iranian President Hassan Rouhani bemoaned Iran’s friends today for not standing up to the United States and breaking crippling sanctions during the coronavirus pandemic. He also said that if the United States had a “bit of humanity or brain,” it would have lifted sanctions...
Source: malaymail - 🏆 1. / 86 Read more »
Serena through to last 16 as fresh controversy hits US Open | Malay MailNEW YORK, Sept 6 — Serena Williams progressed to the US Open last 16 yesterday as the tournament endured fresh controversy after New York health officials ordered the women’s top doubles pairing be withdrawn over coronavirus fears. Williams, chasing a record-equalling 24th Grand Slam title,...
Source: malaymail - 🏆 1. / 86 Read more »