The ringgit continued to be traded lower for the second consecutive day against the US dollar Tuesday, a dealer said.
At 9.09 am(0109 gmt), the local unit was quoted at 3.9840/9900 versus the greenback from 3.9750/9800 at 6 pm on Monday.
FXTM Research Analyst Lukman Otunuga said the dollar index appreciated with ferocity following the impressive US retail sales report, which boosted expectations over the Federal Reserve raising US rates in 2016.
"For an extended period, US data has followed a positive trajectory and the firm US retail sales add to the prerequisites that fulfil the domestic requirement for a potential US rate hike in the future," he added.
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At 9.09 am(0109 gmt), the local unit was quoted at 3.9840/9900 versus the greenback from 3.9750/9800 at 6 pm on Monday.
FXTM Research Analyst Lukman Otunuga said the dollar index appreciated with ferocity following the impressive US retail sales report, which boosted expectations over the Federal Reserve raising US rates in 2016.
"For an extended period, US data has followed a positive trajectory and the firm US retail sales add to the prerequisites that fulfil the domestic requirement for a potential US rate hike in the future," he added.
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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