Ringgit Extends Gains As US Dollar Weakens Ahead Of Key Data
At 8:01am, the local currency rose to 4.1955/2160 against the greenback, strengthening from the close of 4.2060/2130 on June 30.
Against a basket of major currencies, the ringgit was mixed. It softened versus the Japanese yen to 2.9190/9335 and the British pound to 5.7617/7898. It also slipped against the euro to 4.9457/9698.
However, the ringgit posted gains against most regional peers. It appreciated against the Thai baht at 12.9331/13.0059, the Indonesian rupiah at 258.3/259.7, and the Philippine peso at 7.44/7.49. It eased slightly versus the Singapore dollar at 3.3009/3176.
Analysts expect the ringgit to remain sensitive to both U.S. macroeconomic signals and regional market flows in the lead-up to the July 9 trade deadline. Related
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