Sept 6: Ringgit continues climb against US dollar

Publish date: Wed, 06 Sep 2017, 03:16 AM

KUALA LUMPUR: The ringgit continued its uptrend to end higher against the US dollar today, against a backdrop of factors that were bearish to the greenback.

At 6pm, the local unit was quoted at 4.2370/2400 against the greenback, from Tuesday's close of 4.2585/2615.

A rise in crude oil prices, weaker-than-expected US jobs data, geopolitical tension in North Korea, the US Federal Reserve's cautious comments on inflation, and the aftermath of Hurricane Harvey bolstered sentiment for the ringgit.

Market players are also awaiting the European Central Bank's meeting this Thursday for further clues on its monetary policy.

The ringgit ended mixed against other major currencies.

It rose against the Singapore dollar to 3.1336/1368 from 3.1416/1455 on Tuesday, but eased versus the yen to 3.8950/8989 from 3.8926/8964 previously. It improved against the euro to 5.0560/0613 from Tuesday's close of 5.0595/0644, but decreased vis-a-vis the pound to 5.5204/5247 from 5.5054/5105 previously. -- BERNAMA

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shareadvise

From past 2 days market condition have's a issues:

Possibility of war and expects the issue to be resolved through diplomacy, local note was traded & Malaysia's excellent performance at the 2017 SEA Games.

2017-09-07 18:00

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