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KUALA LUMPUR: The ringgit closed higher against the US dollar for the third consecutive day as the greenback’s safe-haven status weakened due to a mix of slowing United States economic data, tariff uncertainty, and unpredictable policymaking, prompting traders to look elsewhere, said an analyst.
SPI Asset Management managing partner Stephen Innes noted that the US dollar remained on the back foot for now. Innes said the broad US dollar selloff is fuelling strength across the Asian foreign exchange market, with the ringgit gaining ground.On the policy front, Innes said Bank Negara Malaysia’s decision to keep its policy rate steady at 3.00 per cent was a clear demonstration of patience and prudence.
Ringgit US Dollar Stephen Innes Tariffs.
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