Ringgit rises as US policy uncertainty weighs on dollar
The ringgit continued to strengthen against the US dollar at the opening, as rapid shifts in US economic policies under the Trump administration created uncertainty within the business community, potentially dampening demand.
The ringgit continued to strengthen against the US dollar at the opening, as rapid shifts in US economic policies under the Trump administration created uncertainty within the business community, potentially dampening demand.
At 8am, the ringgit stood at 4.4200/4400 against the greenback, up from yesterday's close of 4.4300/4340.
"The US Dollar Index (DXY) fell 0.2 per cent to 104.335 points despite favourable economic conditions in the US. Heightened policy uncertainties have reduced visibility for the US monetary authority to respond," Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid told Bernama.
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