KUALA LUMPUR, April 28 — The ringgit ended lower on Thursday as investors continued to move funds to safe haven on prolonged volatility amid more hawkish central banks following rising inflation. Today’s focus is on the Bank of Japan’s (BOJ) decision on its monetary policy. It defies the...
KUALA LUMPUR, April 28 — The ringgit ended lower on Thursday as investors continued to move funds to safe haven on prolonged volatility amid more hawkish central banks following rising inflation.It defies the prevailing global trend by keeping its negative interest rate policy of -0.1 per cent and maintaining the Japanese Government Bonds purchases in order to ensure that the 10-yr yields will remain near zero.
At 6 pm, the local note slipped to 4.3630/3650 versus the US dollar from yesterday’s close of 4.3565/3605. “The ringgit is already in an oversold position, suggesting that further downside risks could be limited. Meanwhile, the ringgit has improved against a basket of major currencies to trade higher at the close.
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