KUALA LUMPUR: The ringgit was higher against the US dollar in early session today on better demand for the local note, said a dealer.

At 9am, the ringgit was quoted at 4.0720/0770 compared 4.0870/0900 last Friday.

The dealer said sentiment was also supported by steady oil prices, amid continuing concerns over political uncertainty in the US-China trade dispute.

“Recent report said China has made a dramatic proposal to address the central issue of imbalanced trade. This would entirely eliminate its bilateral trade surplus with America within six years,” he said.

The Brent crude price stood at US$66.48 a barrel.

Compared with a basket of other major currencies, the ringgit traded mostly higher.

The local unit depreciated versus the British pound to 5.2570/2638 from last Friday’s close 5.2354/2409.

However, the ringgit rose against the Singapore dollar to 3.0032/0073 from 3.0082/0116, strengthen against the Japanese yen to 3.6837/6893 from 3.7013/7050 and increased against the euro at 4.6046/6107 from 4.6110/6152. – Bernama

Source: https://www.thestar.com.my/business/business-news/2019/02/18/ringgit-gets-lift-from-higher-oil-prices/#sgOliSomU1sPdhIS.99