Ringgit continues climb against US dollar for 10th day straight, up 30 points at market opening

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Ringgit Vs Usd Notícia

Currency,Markets

Ringgit continues climb against US dollar for 10th day straight, up 30 points as markets opened KUALA LUMPUR, Aug 2 — The ringgit opens higher against the US dollar today,...

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KUALA LUMPUR, Aug 2 — The ringgit opens higher against the US dollar today, continuing its 10-day rally as investors anticipate possible Federal Reserve rate cuts in September. He said respondents to the ISM survey suggested that consumer demands are slowing, and some businesses are focusing on reducing their inventories.

Mohd Afzanizam also said the ringgit looks constructive versus the US dollar as the rate differential is likely to narrow between the federal funds rate and the overnight policy rate.

 

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