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Ringgit Continues Upward Trend Against US Dollar

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KUALA LUMPUR – The ringgit continued its uptrend momentum against the US dollar this morning on renewed risk appetite for the local note.

At 9 am, the ringgit was traded at 4.3720/3760 against the greenback from 4.3780/3835 at 5 pm Monday.

The positive sentiment for emerging currencies emerged following the release of weak US jobs data, which slashed the likelihood for interest rate increase in the US for this year.

Against other major currencies, the ringgit was traded mostly higher.

It rose against the yen to 3.6279/6318 from 3.6423/6474 on Monday, appreciated versus the pound sterling to 6.6210/6288 from 6.6502/6590 yesterday and strengthened against the euro to 4.8896/8959 from yesterday’s 4.9288/9358 previously.

The local unit, however, fell vis-a-vis the Singapore dollar to 3.0700/0750 from 3.0678/0731 yesterday. – BERNAMA

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