ID :
502166
Tue, 08/21/2018 - 14:21
Auther :

Ringgit Ends Higher Against US Dollar

  KUALA LUMPUR, Aug 21 (Bernama) -- The ringgit ended higher against the US dollar Tuesday on weaker demand for the greenback, ahead of the release of the latest Federal Reserve meeting minutes scheduled on Wednesday. At 6 pm, the local unit appreciated to 4.0960/0990 against the greenback from 4.0990/0200 recorded at yesterday's close. FXTM Global Head of Currency Strategy & Market Research, Jameel Ahmad said the higher ringgit was in line with currencies in the Asia-Pacific region, which continued their positive momentum from the start of the week, following US President Donald Trump's comments on interest rates. “What is likely to linger in the back of the minds of investors and accelerate the near-term softness in the greenback is Trump's statement of not being thrilled with the Federal Reserve raising US interest rates,” he said in a note. However, the local note declined against other major currencies. It depreciated against the Singapore dollar to 2.9948/9977 from 2.9885/9913 Monday and weakened against the yen to 3.7135/7176 from 3.7045/7075. The local note fell against the British pound to 5.2507/2553 from 5.2225/2276 and was lower against the euro at 4.7182/7225 from 4.6765/6804 on Monday. -- BERNAMA

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