The Ringgit rebounded on Thursday morning, strengthening to 4.2335/2550 against the US dollar amid market optimism following reports of a softer stance by former US President Donald Trump towards China.
Weaker US Dollar Lifts Ringgit in Early Trade
The US Dollar Index dipped to 98.392 as speculation swirled over Trump possibly removing Federal Reserve Chair Jerome Powell. Bank Muamalat economist Dr Mohd Afzanizam said this boosted sentiment after the Ringgit had weakened slightly the day before.
The local currency also gained against several ASEAN currencies and the British pound, though it slipped versus the Yen, Euro, and Thai baht. Investors are closely watching geopolitical signals and US economic policy shifts.
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