The Ringgit opened stronger against the US dollar on Thursday, buoyed by falling US treasury yields that weakened the greenback. At 8.03am, it traded at 4.1295/4.1395 versus 4.1315/4.1385 previously.
Ringgit Gains Against Dollar
Analysts noted the 10-year US yield dropped to 4.065%, its lowest this month, raising caution ahead of key US economic data. Sedek Jantan warned a prolonged US government shutdown could delay reports crucial for the Federal Reserve’s December decision.
Bank Muamalat’s Afzanizam Rashid said the Ringgit is in an overbought zone, likely hovering between RM4.13–RM4.14. The currency was mixed against regional peers, gaining against the yen and pound but slipping versus the euro and Singapore dollar.
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