Ringgit Strengthens Against US Dollar, ASEAN FX Market on Edge

  • 📰 theSundaily
  • ⏱ Reading Time:
  • 12 sec. here
  • 11 min. at publisher
  • 📊 Quality Score:
  • News: 39%
  • Publisher: 51%

Economy News

Ringgit,US Dollar,Treasury Yields

Ringgit has strengthened against the US dollar in early Thursday trade, driven by improved sentiment and lower US Treasury yields. The rally extent is contingent on US President-elect's social media activity. Uncertainties in France and South Korea affect sentiment towards emerging currencies.

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

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 25. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines