Qualampur: An analyst stated that the ringitte increased against the US dollar against the US dollar as investors were alert about the policies of US President Donald Trump’s administration, especially on tariffs and geopolitics, an analyst said.
At 8 am, the ringitte strengthened from 4.4270/4320 to 4.4040/4310 on Thursday.
Bank Malaysia Malaysia Bhad Chief Economist Dr. Mohammad Afzanim Abdul Rashid said that greenback weakened amidst the fall in American Treasury yield and equity prices, as investors assessed corporate income.
Bernma Today said, “The latest income report by Walmart, a leading American retailer, highlighted that consumer behavior, global economic conditions, and uncertainties in geopolitics expected to affect its financial performance this year.”
Mohammad Afzajnizam said that US retail sales strengthens concerns over economic uncertainty by falling 0.9 percent monthly in January.
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He said that the US dollar was at 106.372 points after the index exceeded 107.
“A weak economic approach should normally be done after an expectation of monetary ease by the central bank.
He said, “However, such an argument is over obstacles with the signs of the American Federal Reserve, as it is not in a hurry to reduce the federal money rate,” he said.
Meanwhile, Ringit traded mostly against major currencies.
It strengthened against Japanese Yen from 2.9454/9490 to 2.9435/9619 and received 5.5794/6136 against British pounds from 5.5833/5896. However, it slipped against Euro from 4.6196/6248 to 4.6238/6521.
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Ringit also increased against most ASEAN currencies.
It appreciated 3.3023/3228 to 3.3060/3099 against Singapore dollars and 13.1232/2146 to 13.1459/1685.
Local notes also extended from 269.5/271.3 to 270.9/271.4 against Indonesian ropia and from 7.60/7.65 to 7.64/7.65 to 7.60/7.65 on Thursday from 7.60/7.65 to 7.60/7.65.
