FOREX: Ringgit Higher Against Major Currencies In Early Trading
KUALA LUMPUR -- The ringgit was higher against major currencies in early trading, continuing its steady uptrend amid the continued strong economic fundamentals of the country.
At 9.33am, the ringgit appreciated against the US dollar at 3.5125/5155 compared with 3.5140/5160 at the close yesterday.
However, a dealer said the ringgit might retreated against the US dollar in the afternoon as the greenback was still supported by positive factors such as the narrowing US trade deficit.
The US trade deficit narrowed to US$58.2 billion in November, just under US$60 billion expected by the market.
The ringgit rose against the Singapore dollar at 2.2819/2856 from 2.2851/2880 and was higher against the Japanese yen at 2.9376/9406 from 2.9468/9494 previously.
Against the British pound, the local currency strengthened at 6.7904/7972 from 6.8147/8196 and against the euro it appreciated at 4.5508/5557 from 4.5619/5652 previously.
At 9.33am, the ringgit appreciated against the US dollar at 3.5125/5155 compared with 3.5140/5160 at the close yesterday.
However, a dealer said the ringgit might retreated against the US dollar in the afternoon as the greenback was still supported by positive factors such as the narrowing US trade deficit.
The US trade deficit narrowed to US$58.2 billion in November, just under US$60 billion expected by the market.
The ringgit rose against the Singapore dollar at 2.2819/2856 from 2.2851/2880 and was higher against the Japanese yen at 2.9376/9406 from 2.9468/9494 previously.
Against the British pound, the local currency strengthened at 6.7904/7972 from 6.8147/8196 and against the euro it appreciated at 4.5508/5557 from 4.5619/5652 previously.
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