RM opens almost unchanged versus USD

 Publish date: Tue, 23 Feb 2021, 10:27 AM

KUALA LUMPUR: The ringgit opened almost unchanged against the US dollar on Tuesday morning, as mixed sentiment brought about by the COVID-19 vaccine, coupled with a weaker greenback, kept investors on a wait-and-see attitude for bigger market catalysts, dealers said.
At 9.00 am, the local currency stood at 4.0400/0430 against the US dollar from Monday's close of 4.0400/0450.
Axi chief global market strategist Stephen Innes said global yields and curves resumed higher on promising outlook following the vaccine.
He said rates traders continue to reprice the Federal Reserve curve and higher US yields are perhaps intimidating Asian central banks into a policy corner. 
Closer to home, he believes the ringgit is currently in a tug of war between narrowing yield differentials with US bonds and surging oil prices.
"While Malaysia is losing some of its Malaysian Government Securities appeals, the ringgit stands a great chance to benefit from export and commodity recovery as the world continues to reopen for business," he told Bernama.
Meanwhile, the ringgit was traded lower against other major currencies.
It fell against the Singapore dollar to 3.0588/0622 from 3.0523/0572 on Monday and depreciated versus the Japanese yen to 3.8476/8512 from 3.8229/8290 on Monday.
The local currency weakened vis-a-vis the euro to 4.9151/9203 from yesterday's 4.8912/8981 and contracted against the British pound to 5.6847/6893 from 5.6613/6691 as Prime Minister Boris Johnson charts a path out of lockdowns on the back of rapid vaccinations.
 - Bernama
Share this

  Be the first to like this.

I3 Messenger
Individual or Group chat with anyone on I3investor
MQ Trader
Earn MQ Points while trading with MQ Traders Group
MQ Affiliate
Earn side income from MQ Affiliate Program

609  436  554 

Top 10 Active Counters
 KOMARK 0.435-0.175 
 VELESTO 0.175+0.01 
 ARMADA 0.455+0.03 
 THHEAVY 0.135+0.015 
 SAPNRG 0.15+0.005 
 SEALINK 0.21+0.03 
 TECHNAX 0.145+0.005 
 SYF 0.43+0.06 
 GFM-WC 0.155-0.01 
 MEDIAC 0.195+0.02 


1. MQ Trader - Introduction to MQ Trader Affiliate Program MQ Trader Announcement!


1. CLSA Feng Shui Recommends Selling in 1st Week of March 2021 Misai's World of Investing
2. Kelington Group - Opportunities Amid Chip Shortage Kenanga Research & Investment
3. MY LOW PROFILE GEMS COMING TO SOAR!!! Follow Kim's Stockwatch!
4. PublicInvest Research Headlines - 4 Mar 2021 PublicInvest Research
5. Mplus Market Pulse - 4 Mar 2021 M+ Online Research Articles
6. 斥谣言致股价遭压力抛售 Vivocom:将发展成庞大企业集团 Vivocom Vivo Forever Company Up Up Up
7. 上升股:速柏玛 阻力RM5.20 南洋行家论股
8. Technical Buy - VIZIONE-WD (7070WD) PublicInvest Research