KUALA LUMPUR, July 9 ― The ringgit opened firmer against the US dollar today, supported by stable but quiet trading in crude oil, analysts said. As of 9am, the local unit rose to 4.2600/2650 against the greenback from yesterday’s close of 4.2720/2770. AxiCorp chief global market strategist...
As of 9am, the local unit rose to 4.2600/2650 against the greenback from yesterday’s close of 4.2720/2770. — Reuters pic
As of 9am, the local unit rose to 4.2600/2650 against the greenback from yesterday’s close of 4.2720/2770. “Brent seemed to have settled into a US$40 -US$45 per barrel range and while near-term risks remain skewed to the downside, this likely positive for oil barring any medical or therapeutic breakthroughs on the coronavirus,” said Innes.
“The 10-year MGS’ real yield looks very attractive in comparison to the equivalent US bonds. I think we should have a better day for the ringgit as the US dollar is also broadly weaker across the board,” he added.
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