Ringgit eases against greenback, higher against other currencies
The greenback is likely to remain well supported as strong US economic data reinforces confidence in the resilience of the world's largest economy, says an analyst.
KUALA LUMPUR: The Malaysian ringgit experienced mixed performance on Tuesday, weakening against the US dollar while gaining strength against other major currencies. By 6 pm, the local currency slipped to 4.0945/4.0985 from Monday's close of 4.0935/4.0975. Analyst Afzanizam Rashid from Bank Muamalat Malaysia Bhd attributed the US dollar's support to positive economic data, noting that the US Dollar Index (DXY) surpassed the 100-point mark following better-than-expected US manufacturing data.
Despite the overall weakness against the greenback, the ringgit remained relatively stable within a narrow range throughout the day. The currency performed favorably against several major currencies, including the Japanese yen, euro, British pound, Thai baht, Indonesian rupiah, Philippine peso, and Singapore dollar.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
