Netizen 24 MYS: Ringgit easier against US$ on higher US Treasury yields

By On April 24, 2018

Ringgit easier against US$ on higher US Treasury yields

At 9.25 am(0125 gmt), the local unit was quoted at 3.9060/9090 from 3.8965/8995 recorded at Monday's close.

At 9.25 am(0125 gmt), the local unit was quoted at 3.9060/9090 from 3.8965/8995 recorded at Monday's close.

KUALA LUMPUR: The ringgit was easier against the US dollar early Tuesday on the back of higher US Treasury yields, a dealer said.

At 9.25 am(0125 gmt), the local unit was quoted at 3.9060/9090 from 3.8965/8995 recorded at Monday's close.

OANDA Head of Trading Asia-Pacific, Stephen Innes said Malaysian local bonds continued to sell off throughout yeste rday's session, around weakening risk sentiment embracing the upcoming general elections and rising US Treasury yields.

“The Malaysian bond market look poised to continue declining ahead of the elections and even more so, as US Treasury yields look poised to move even higher,” he told Bernama.

Innes said despite the long-term supportive underlying structure from higher oil prices, the short-term election drivers and a broadly stronger greenback will continue to put downward pressure on the ringgit, near term.

“We could see a test of the critical RM3.90 per dollar level,” he added.

The ringgit traded higher against a basket of major currencies.

Against the Singapore dollar, it rose to 2.9433/9473 from 2.9452/9481 and appreciated versus the yen to 3.5884/5915 from 3.6005/6043.

The ringgit improved to 5.4387/4433 from 5.4411/4464 vis-a-vis the British pound and advanced to 4.7630/7678 from 4.7658/7706 when compared with the euro. - Reuters

Korean won, Taiwan dollar weaken; Thai baht edges up

The following table shows rates for Asian currencies against the dollar at 0142 GMT(0942 Malaysian time) on April 24.
CURRENCIES VS U.S. DOLLAR
Currency Latest bid Previous day Pct Move
Japan yen 108.780 108.7 -0.07
Sing dlr 1.326 1.3254 -0.03
Taiwan dlr 29.605 29.528 -0.26
Korean won 1078.100 1069 -0.84
Baht 31.510 31.515 +0.02
Peso 52.289 52.24 -0.09
Rupiah 13896.000 13890 -0.04
Rupee 66.475 66.48 +0.00
Ringgit 3.906 3.8965 -0.24
Yuan 6.317 6.3165 -0.01
Change so far in 201 8
Currency Latest bid End 2017 Pct Move
Japan yen 108.780 112.67 +3.58
Sing dlr 1.326 1.3373 +0.87
Taiwan dlr 29.605 29.848 +0.82
Korean won 1078.100 1070.50 -0.70
Baht 31.510 32.58 +3.40
Peso 52.289 49.93 -4.51
Rupiah 13896.000 13565 -2.38
Rupee 66.475 63.87 -3.92
Ringgit 3.906 4.0440 +3.53
Yuan 6.317 6.5069 +3.00

Reuters

Related NewsSource: Google News

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