Ringgit continues uptrend vs US$

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Ringgit continues uptrend vs US$
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The actor was diagnosed with esophageal cancer last year and had been experiencing discomfort.

KUALA LUMPUR: The ringgit continued its upward momentum to open higher against the US dollar today as the United States Treasury yield slid following dovish comments from the US Federal Reserve officials, said an analyst.

Bank Muamalat Malaysia Bhd chief economist and social finance head Dr Mohd Afzanizam Abdul Rashid said the US Treasury yield fell 12 basis points after Atlanta's Fed Bank president Raphael Bostic said the central bank does not need to increase the benchmark interest rates further, and that he foresees no recession ahead."As such, there’s a chance that the ringgit would appreciate versus the US dollar," he told Bernama.

The US has indicated its unwavering support for the Israeli regime, and its Secretary of State Antony Blinken is set to visit Israel this week. At the opening, the ringgit traded lower versus a basket of major currencies, except against the euro where it rose to 5.0083/0131 from 5.0095/0153 at Tuesday's close.

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