KUALA LUMPUR, April 9 — The ringgit rebounded to close slightly higher against the US dollar today as the US Treasury yields continued to retreat and dampened appetite for the greenback.
At 6pm, the local currency ended at 4.1330/1370 against the greenback from 4.1360/1390 yesterday.
Axi chief global markets strategist Stephen Innes said the ringgit was also supported by oil prices, which finally shows some semblance of calm, attempting to form a base around Brent at US$63 per barrel.
“However, the offset to the ringgit is a hint of disquiet on local bond markets as Bank Negara Malaysia’s next policy move may likely be higher than lower (on overnight policy rate),” he said in a statement.
Meanwhile, the ringgit was traded mixed against other major currencies.
The local note rose versus the British pound to 5.6618/6685 from 5.6825/6878 at yesterday’s close and strengthened further against the Singapore dollar to 3.0800/0839 from 3.0836/0867 yesterday.
However, it slipped against the euro to 4.9141/9205 from 4.9070/9109 yesterday and declined vis-a-vis the yen to 3.7689/7733 from 3.7744/7782 previously. — Bernama
