KUALA LUMPUR, April 15 — The ringgit traded easier against the US dollar this morning as the positive greenback sentiment curbed appetite for the local currency.
Bank Islam Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the overnight US Dollar Index strengthened by 0.41 per cent to 100.28 points as the United States’ economic indicators point to better prospects amid rising inflationary pressures. This has bolstered the case for an aggressive interest rate hike by the US Federal Reserve, with the two-year US Treasury notes yield up by about 11 basis points to 2.45 per cent.
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