Ringgit opens higher v weaker dollar
The ringgit opens higher against a weaker US dollar, following the release of US inflation data. – The Malaysian Insight file pic, April 13, 2023.
At 9am, the local note rose to 4.3995/4035 versus the greenback from yesterday’s closing rate of 4.4065/4120. He added that the two-year US Treasury yields, which are closely tuned to the Fed Fund Rate, had dropped by six basis points to 3.96%, suggesting that the Fed is likely to pause their rate hike campaign soon.
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