Ringgit is higher does this show a catalyst to KLSE stock?
KUALA LUMPUR, July 20 (Bernama) -- The ringgit was traded higher against the US dollar this morning as concerns ease over a possible US debt default after President Barack Obama embraced a $3.7 trillion debt-cutting plan.
"The President provided some clues on the progress of the debt-limit negotiations overnight, but traders are still cautious, coupled with the euro-zone debt woes," a dealer said.
Meanwhile, inflation data for the month of June, to be released by the Statistics Department later in the day, may also sway trading direction of the local unit.
The local unit was mostly stronger against other major currencies.
At 9.02am, the local currency was quoted at 2.9980/3.0010 against the US dollar compared with 3.0040/0070 at 5pm on Tuesday.
Against the Singapore dollar, the ringgit strengthened to 2.4661/4706 from 2.4696/4741, previously, and appreciated against the yen to 3.7834/7882 compared with 3.8058/8101, yesterday.
The local currency gained against the British pound to 4.8316/8373 from 4.8494/8551, previously, and climbed against the Euro to 4.2464/2512 from 4.2606/2663 on Tuesday.
Source: Bernama
No comments :
Post a Comment