Ringgit opens marginally higher against US dollar

KUALA LUMPUR, June 21 ― The ringgit opened marginally higher against the US dollar today despite fragile market sentiments over expectations of an aggressive monetary tightening by the United States Federal Reserve that would take a toll on the economy, a dealer said.

Bank Islam chief economist Dr Mohd Afzanizam Abdul Rashid said talks of a possible recession would also make market participants remain defensive, leading to a higher demand for safe-haven currencies. “The ringgit versus the Singapore dollar saw a notable movement with the Singapore dollar closing at RM3.1736 yesterday after hovering around RM3.20 in the early part of June,” he told Bernama.

lol 'marginally higher' my ass

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