The ringgit opened slightly higher at RM4.0550 against the US dollar, supported by improving market sentiment and easing concerns over potential oil supply disruptions.
Key takeaways
The ringgit rose slightly to 4.0550/0610 against the dollar at 8 am, up from Friday’s 4.0565/0610, as investors await US inflation data that could affect Treasury yields and the dollar.
- Ringgit edged up to 4.0550/0610 at 8 am, compared with Friday’s 4.0565/0610.
- The market was closed Monday for the Deepavali replacement holiday.
- Investors are watching upcoming US inflation data for its potential impact on Treasury yields and the dollar.
Summarised automatically by AI from the original article by The Sun. AI can make mistakes, so check the original for details.
KUALA LUMPUR: The ringgit opened marginally higher against the US dollar on Tuesday amid cautious market sentiment as investors continued to assess global economic developments and the outlook for US interest rates.
At 8 am, the local currency edged up to 4.0550/0610 against the greenback from Friday’s close of 4.0565/0610.
The market was closed on Monday for the Deepavali replacement holiday.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said investors would be closely monitoring upcoming US inflation data, as softer readings could weigh on US Treasury yields and the greenback, providing support for the ringgit.
