Ringgit ends higher against the US dollar amid improving risk appetite

“The news that the United States had joined a list of countries to require COVID-19 testing by incoming travellers from China weighed on the US dollar,” a dealer said theSun theSundaily economy trading Currency money USD RinggitMalaysia

: The ringgit recouped earlier losses to end higher against the US dollar today amid improving risk appetite as seen on the local equities market, a dealer said.

The dealer said the US dollar also pared earlier gains on Thursday, spurred on by a rise in benchmark US Treasury yields, which hit a more than one-month high overnight as optimism surrounding China’s move to remove quarantine rules is fading as cases spread across China. SPI Asset Management managing partner Stephen Innes told Bernama that the pace and strength of China’s reopening continued to be the key to the ringgit.

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