Malaysia: Ringgit marginally higher on better risk sentiment

• Apr 22, 2021

KUALA LUMPUR: The ringgit opened marginally higher against the US dollar this morning but remained in a relatively tight trading range due to weak oil prices, which were offset by better risk sentiment and a slightly weaker US dollar.

At 9am, the local unit stood at 4.1140/1180 versus the greenback from Wednesday’s close of 4.1190/1230.

Axi chief global markets strategist Stephen Innes said the weak US dollar was in line with the soft US Treasury yields, which helped the ringgit.

At the opening bell, the ringgit was traded mixed against other major currencies.

The ringgit appreciated against the British pound to 5.7341/7401 from 5.7390/7462 and went up against the yen to 3.8082/8126 from 3.8107/8155 yesterday.

However, the local unit fell against the Singapore dollar to 3.0977/1016 from 3.0958/0995, and declined against the euro to 4.9520/9572 from 4.9453/9509. – Bernama