The ringgit strengthened against the US dollar in early Thursday trade due to improved sentiment towards the domestic currency. The two-year US Treasury yield has dropped to 4.12%, the lowest since the presidential election on Nov 5. This has led to a festive mood in financial markets, with the ringgit opening stronger. However, the rally's extent will depend on the US President-elect's social media activity.
The US Federal Reserve is likely to cut interest rates by 25 basis points, but it remains uncertain if this will bolster emerging currencies, including the ringgit, amid political uncertainties in France and South Korea
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