Ringgit extends recovery momentum as greenback weakens FMTNews FMTBusiness
KUALA LUMPUR: The ringgit extended its recovery momentum and closed marginally higher against the US dollar as risk appetite improved amid weaker greenback sentiment.
The latest data indicated that the US economy is softening, leading to the devaluation of the greenback. “This week, we saw the Reserve Bank of Australia and Bank of Canada unexpectedly raising their policy rates by 25 basis points.
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