KUALA LUMPUR, July 9 — The ringgit ended higher against the US dollar for the second day in a row, in line with regional currencies as financial markets put concerns about Covid-19 affecting growth in the United States behind them, said an analyst.

As at 6pm, the local unit strengthened to 4.2600/2650 against the greenback from yesterday’s close of 4.2720/2770.

OANDA senior market analyst for Asia Pacific Jeffrey Halley said the ringgit should continue to carve out more gains in the near term with the increasing appetite for risk as US bond yields continue to fall.

“The US dollar/ringgit could well fall to 4.2400 by early next week if the current climate continues,” he told Bernama.

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Meanwhile, the ringgit was traded mixed against other benchmark currencies.

The domestic unit rose against the Singapore dollar to 3.0595/0642 from 3.0600/0642 yesterday and was slightly higher against the yen at 3.9702/9752 from 3.9703/9768 yesterday.

The ringgit fell against the euro to 4.8262/8335 from 4.8167/8236 and fell against the British pound to 5.3906/3982 from 5.3503/3587. — Bernama

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