KUALA LUMPUR, Dec 26 — The ringgit extended Tuesday’s gains to close higher against the US dollar today as more investors shift their interest towards riskier assets due to growing optimism on the United States (US)-China “phase one” trade deal.
At 6pm, the ringgit was traded at 4.1310/1350 versus the greenback compared with 4.1350/1380 on Tuesday.
A dealer said that positive sentiment following the easing trade tensions between the US and China, as well as the pick-up in global growth saw more investors turning to emerging currencies.
“Global currency markets are still in the holiday mood, with Christmas on Wednesday and several centres still closed for Boxing Day,” he said.
The ringgit also traded mostly higher against a basket of major currencies.
It rose against the Singapore dollar to 3.0489/0530 from 3.0499/0525 on Tuesday, strengthened against the Japanese yen to 3.7705/7752 from 3.7787/7824 and increased against the euro to 4.5813/5874 from 4.5791/5837.
However, the local unit depreciated against the British pound to 5.3625/3693 from 5.3449/3504 previously. — Bernama
