Ringgit ends higher against US dollar, snaps 3-day losing streak FMTNews FMTBusiness
KUALA LUMPUR: The ringgit snapped a three-day losing streak to end higher against the US dollar today as the greenback retreated ahead of the release of the US Consumer Price Index data later today, analysts said.
SPI Asset Management managing director Stephen Innes said the ringgit had made some headway today as the broader US dollar weakened with all eyes on tonight’s US CPI data. “The Federal Reserve will ultimately need to address the broader adverse growth shocks from tighter lending standards as a result of the US bank mini-crisis,” he told Bernama.
“More stimulus, primarily directed at infrastructure development in China, will be favourable for Malaysia’s exports hence the ringgit,” he added.
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