KUALA LUMPUR: The ringgit closed higher against the US dollar today, as markets remain buffeted by positive signs on the US-China trade front, said Oanda Head of Trading Asia-Pacific Stephen Innes.
At 6pm, the local note traded at 4.1780/1820 against the US dollar from yesterday’s close of 4.1830/1860.
Innes noted that despite the progress in the dispute between these two economic blocks, it is far too early to get overly optimistic about a quick end to these tensions.
“As for today, it was a bullish day across the board for Asian equity markets as investors absorbed a more positive outlook on the US-China trade turmoil.
“China is reportedly considering a review of its “Made in China 2025” programme, possibly toning down plans to dominate global manufacturing, sent some positive signals for Asian markets,“ he added.
Against major currencies, the ringgit fell to 5.2902/2957 from 5.2434/2501 vis-a-vis the pound yesterday and fell versus the euro to 4.7533/7587 from Wednesday’s 4.7398/7471.
It weakened slightly against the Singapore dollar to 3.0479/0519 from 3.0462/0509 on Wednesday but edged up against the yen to 3.6817/6859 from 3.6858/6912 yesterday. — Bernama
