KUALA LUMPUR, April 9 — The ringgit closed marginally higher against the US dollar today alongside other commodity-linked currencies, supported by better crude oil prices.
At 6 pm, the local unit was traded at 4.0920/0960 against the greenback as compared with 4.0950/0000 at yesterday’s close.
FXTM global head of currency, strategy and market research Jameel Ahmad said the ringgit eased back below the psychological 4.10 level against the US dollar as the local currency strengthened alongside most regional currencies.
“Oil prices notching new year-to-date highs have not fed directly into the ringgit’s performance, as US dollar continues to drive the narrative for Asian currencies,” he told Bernama.
Global benchmark Brent crude was traded at US$71.1 per barrel today.
Jameel believed that markets would remain watchful over global factors, such as US-China trade negotiations, US President Donald Trump’s tariff threats, and the slowing global economy, to ascertain the next major move for Asian assets which have significant exposure to broader risk sentiment.
Overall, the ringgit traded easier against a basket of major currencies.
It slipped further against the British pound to 5.3556/3625 from 5.3485/3562 and declined against the Japanese yen to 3.6772/6818 from 3.6750/6804 recorded yesterday.
It depreciated against the euro to 4.6125/6191 against yesterday’s close of 4.6024/6084 and weakened against the Singapore dollar to 3.0246/0280 from 3.0197/0245 previously. — Bernama
