The Malaysian ringgit started Monday slightly stronger against the US dollar due to a dip in the US Dollar Index (DXY) following its recent two-year high. Analysts attribute this to the appointment of Scott Bessent, a hedge fund manager, as Treasury Secretary, which appears to be calming financial market optimism surrounding Trump's policy agenda.
: The ringgit opened marginally higher against the US dollar on Monday due to a decline in the US Dollar Index following its recent two-year high, according to an analyst.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid noted that US President-elect Donald Trump’s cabinet selections are drawing significant attention. “He may seem keen to ensure the financial markets will function in an orderly manner and keeping a close tab on the burgeoning fiscal deficits could be his priority.
Ringgit US Dollar DXY US Dollar Index Donald Trump Scott Bessent Treasury Secretary
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