KUALA LUMPUR: The ringgit slipped additional to open decrease towards the US greenback on Wednesday because the dollar maintains its bullish transfer forward of the US’ (US) financial information launch, an analyst stated.
At 9 am, the native be aware weakened to 4.1990/2015 versus the dollar from 4.1970/2000 at yesterday’s shut.
ActiveTrades dealer Dyogenes Rodrigues Diniz stated the US gross home product (GDP) information and Jobless Claims on account of be launched later at present would doubtless dictate path for the greenback.
“Ought to this studying is available in decrease than anticipated, it may speed up the uptrend within the US greenback towards the ringgit.
“From a technical standpoint, because the US greenback to the ringgit fee has simply began to interrupt the resistance at RM4.1900, the way in which is obvious for it to go as much as RM4.2400,” he instructed Bernama.
Within the meantime, Financial institution Islam Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid opined that there’s a likelihood that the ringgit may stage a slight rebound at present as Brent crude oil value has reverted to above US$80 per barrel.
At press time, the benchmark Brent crude oil value fell 0.12 per cent to US$82.21 per barrel.
In the meantime, at opening, the native be aware was traded larger towards a basket of main currencies.
It rose towards the Singapore greenback to three.0728/0753 from 3.0734/0758 at Tuesday’s shut and inched up towards the euro to 4.7201/7229 from 4.7258/7292.
The ringgit rose barely versus the British pound to five.6145/6178 from 5.6147/6188 yesterday and added vis-a-vis the Japanese yen to three.6450/6475 from 3.6569/6598. – Bernama
