Ringgit ends slightly higher after cautious range-bound trading
KUALA LUMPUR: The ringgit ended slightly higher against the US dollar today after trading in a narrow range, as market sentiment remained cautious amid heightened global uncertainties.
At 6pm today, the Malaysian ringgit slightly increased against the US dollar, finishing at 4.0820/4.0870, following a narrow trading range. This comes as market sentiment remains cautious due to global uncertainties. The local currency exhibited resilience despite the prevailing uncertainties, as stated by Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid.
The ringgit traded within the range of RM4.0830 and RM4.0887 against the US dollar. Dr Rashid attributed the gains to higher global bond yields, as well as stronger crude oil prices and positive US data points, which have led to increased demand for the US dollar. Despite these factors, the ringgit showed relative strength against the US dollar, even as it faced fluctuations against various major currencies and Asian currencies.
Written by urgent.news from New Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
