Ringgit snaps three-day losing streak to close higher against US dollar

KUALA LUMPUR, March 1 — The ringgit rebounded after three consecutive trading days of losses to close higher against the US dollar today as strong China manufacturing data...

KUALA LUMPUR, March 1 — The ringgit rebounded after three consecutive trading days of losses to close higher against the US dollar today as strong China manufacturing data spurred risk-on sentiment.

SPI Asset Management managing director Stephen Innes said the local note traded higher after China’s manufacturing purchasing managers’ index climbed to 52.6 in February 2023, the highest level since April 2012, indicating that the world’s second biggest economy is rebounding strongly.

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