KUALA LUMPUR: The ringgit rebounded to open marginally higher against the US dollar today on renewed buying curiosity despite the continuous building up of the greenback, mentioned a dealer.
At 9 feel, the local currency flower to 4. 4830/4860 against the greenback through yesterday’s close associated with 4. 4885/4915.
ActivTrades trader Dyogenes Rodrigues Diniz mentioned the US dollar is currently in a bullish mode following statements by United States Federal Arrange chairman Jerome Powell, who reaffirmed the interest rate for the ALL OF US dollar should remain high for some time.
“From a technical point of view, the US dollar is in an all-time high region contrary to the ringgit and thinking about the broad bullish movement of the past few months, it seems unlikely which the USD/MYR will be able to break above 4. fifty without first making a major retracement to the downside, ” he said.
On the home front, Diniz said Malaysia’s consumer price index (CPI) data released yesterday showed that pumpiing in the country was in collection with investors’ requirements at 4. 4 per cent.
At the same time, the ringgit had been traded mostly lower against a container of major foreign currencies.
The local unit was lower contrary to the Singapore dollar on 3. 2125/2151 through yesterday’s close of 3. 2100/2126, dropped against the British lb to 5. 2518/2553 from 5. 2439/2474 and declined contrary to the euro to four. 4843/4873 from four. 4705/4735 yesterday,
However , it appreciated against the Japanese yen to 3. 2359/2385 from 3. 2385/2409 on Monday. sama dengan Bernama