Highlights

RM opens lower against USD

 Publish date: Tue, 8 Sep 2020, 10:19 AM

KUALA LUMPUR: The ringgit opened lower against the US dollar today as the greenback strengthened, supported by jobs data, which showed a decline in the unemployment rate, and a rise in US Treasury yields, dealers said.
 
At 9.01 am, the local currency was quoted at 4.1600/1700 against the greenback from Monday's close of 4.1550/1600.
 
AxiCorp chief global market strategist Stephen Innes said the ringgit's overachieving way of late has yielded to general global risk sentiment, a firmer dollar, and tumbling oil prices struggling to pull off the mat in the face.
 
A dealer said the ringgit was the best performing Asian currency, benefiting from a combination of US dollar weakness and demand for the local unit.
 
"The eventual reversal of the pair is expected from recent moves. We see room for the ringgit to test 4.12-4.13 against the US dollar this week," he told Bernama.
 
Bank Negara Malaysia's Overnight Policy Rate decision on Sept 10 will be a key event risk whereby a pause to rate cuts may further reinforce ringgit bulls, he added.
 
Against other major currencies, the ringgit was also traded mixed.
 
It went down against the Singapore dollar to 3.0416/0491 from Monday's 3.0411/0452 and was weaker against the yen at 3.9149/9247 from 3.9113/9171.
 
The ringgit appreciated against the British pound to 5.4712/4848 from 5.4804/4887 yesterday and rose against the euro to 4.9105/9235 from 4.9145/9209.
 
 
 - Bernama
Share this

  Be the first to like this.
 


APPS
I3 Messenger
Individual or Group chat with anyone on I3investor
MQ Trader
Earn MQ Points while trading with MQ Traders Group
MQ Affiliate
Earn side income from MQ Affiliate Program
 
 

248  821  476  603 

ActiveGainersLosers
Top 10 Active Counters
 NameLastChange 
 AT 0.10+0.005 
 DGSB 0.195-0.03 
 VIVOCOM 0.05+0.005 
 AEM 0.16+0.005 
 GPACKET 0.46-0.02 
 MAHSING 0.91-0.05 
 DATAPRP 0.18-0.015 
 HWGB 0.755-0.025 
 LUSTER 0.15-0.015 
 TRIVE 0.010.00 

FEATURED POSTS

1. The Equity Market Index Benchmark in Malaysia CMS
2. Trading Scenarios of Derivatives Bursa Derivatives Education Series
3. Derivatives 101 Bursa Derivatives Education Series
4. Why Trade FKLI? Bursa Derivatives Education Series
5. MQ Trader - Introduction to MQ Trader Affiliate Program MQ Trader Announcement!
PARTNERS & BROKERS