KUALA LUMPUR, July 23 — The ringgit opened sharply higher against the US dollar this morning as risk appetite improved on external news, dealers said.
The expected outcome from the Japanese election helped boost demand for the yen, sending the dollar into selling pressure.
Japanese Prime Minister Abe Shinzo won the majority election Sunday in Parliament’s Upper House and a mandate to push ahead economic reforms.
Against the greenback, the local unit rose to 3.1650/1680 versus 3.1790/1820 yesterday and increased against the Singapore dollar to 2.5103/5135 from 2.5166/5192 yesterday.
However, against the yen, the ringgit fell marginally to 3.1799/1836 from 3.1784/1817 yesterday, dropped against the British pound to 4.8602/8660 from 4.8594/8653 yesterday and versus the euro, it improved to 4.1740/1783 from 4.1832/1878 previously. – Bernama
