The ringgit opened higher against the US dollar on Monday on stronger demand for the local note against the backdrop of a dovish Federal Reserve and better economic data from China.
At 9.04am, the ringgit was quoted at 3.8750/8830 versus the greenback from Friday's close of 3.8880/8950.
A dealer said emerging Asian currencies, including the ringgit, would likely stay firm with expectations of a near-term US interest rate hike waning after the Federal Reserve recommended caution on tightening.
The expansion in China's manufacturing sector for March also provided a boost for the ringgit.
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At 9.04am, the ringgit was quoted at 3.8750/8830 versus the greenback from Friday's close of 3.8880/8950.
A dealer said emerging Asian currencies, including the ringgit, would likely stay firm with expectations of a near-term US interest rate hike waning after the Federal Reserve recommended caution on tightening.
The expansion in China's manufacturing sector for March also provided a boost for the ringgit.
For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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