Tag: US dollar
Lower crude oil prices fail to have major impact on the ringgit's performance today.
At 9.05am, the ringgit stood at 4.1930 against the greenback from yesterday’s close of 4.1910.
US-China trade tensions hurt the greenback, resulting in a better ringgit performance.
The weakening of US manufacturing sector shift investor interest towards the ringgit.
Ringgit has a mixed performance among other major currencies.
A dealer says US dollar demand would sustain over short-term as markets focus on geopolitical risks.
Nikkei 225 index adds 0.06%, or 13.03 points, to 22,001.32, while the broader Topix index rose 0.29%, or 4.71 points, to 1,614.58.
Oil tensions in the middle east impacts the local note to open slightly lower against the US dollar today.
The gains however, are limited as most investors are cautious ahead of Bank Negara Malaysia’s Monetary Policy Committee meeting today.
Investors are staying cautious ahead of Bank Negara Malaysia’s monetary policy decision tomorrow.
The higher trade surplus has helped strengthen the ringgit's sentiment.
A decline in US manufacturing activity could lead to more Federal Reserve rate cuts this year, thus making the ringgit more appealing for investors.
The fall is in line with the decline in global oil prices, which has led to weaker demand.
Asian currencies will likely remain on the back foot against a resurgent US dollar but not to a high degree.
A slight uptick in oil prices has limited the losses seen in the ringgit, with Brent oil trading 0.65% higher.
A market expert says interest rate cuts are a way to keep the ringgit competitive against the greenback amid trade war tensions.
BoE governor Mark Carney says there is a need for central banks to create a replacement reserve currency rather than depending on the US dollar.
US President Donald Trump appointed Federal Reserve Chairman Jerome Powell to his position but has excoriated him almost daily for raising the key interest rate too quickly last year.
The yuan’s fall, combined with declines in Hong Kong stocks, has pushed the dollars lower and boosted the yen.
While recording a higher opening against the greenback today, the local note similarly performs well over other major currencies.
The ringgit lacked market demand resulting in a lower opening against the US dollar today.
Safe-haven currencies, gold, bonds and other low-risk assets could continue to get a boost due to growing worries about the poor health of the global economy.
At opening, the ringgit traded mixed against a basket of major currencies.
US President Donald Trump blames the Federal Reserve for putting the US economy at risk, though it is reportedly in 'reasonably good' shape.