Bargain-hunting activities indicate further appreciation of ringgit, says analyst.
KUALA LUMPUR: The ringgit made a correction from its oversold position to end today on a positive note against the US dollar.
On top of that, he believed the ringgit could also receive renewed interest due to some positive developments in the Israel-Hamas conflict.“However, markets are still anxious about the possible ground offensive by the Israelis and when that happens, how it will change the dynamics of the present conflict,” he said.
Therefore, BNM governor Abdul Rasheed Ghaffour will ensure that the central bank does whatever is necessary to ensure the ringgit continues to adjust in an orderly manner.
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