KUALA LUMPUR, April 27 — The ringgit finished trading on a slightly better footing against the US dollar today on renewed demand for the currency, but arguably the slide in near month oil contracts would likely provide poor optics, an analyst said. At 6pm, the local unit rose to 4.3530/3630...
Monday, 27 Apr 2020 07:00 PM MYT
KUALA LUMPUR, April 27 — The ringgit finished trading on a slightly better footing against the US dollar today on renewed demand for the currency, but arguably the slide in near month oil contracts would likely provide poor optics, an analyst said. AxiCorp global chief market strategist Stephen Innes said that the front end oil market capitulation is factored into currency markets which are pricing in an oil price bounce in 6-8 weeks.
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