KUALA LUMPUR, June 18 — The ringgit opened slightly higher driven by local investors as international players are staying on the sidelines, waiting for a clearer market direction. At 9am, the ringgit was quoted at 4.2750/2850 from 4.2780/2830 of yesterday's close. According to an analyst,...
At 9am, the ringgit was quoted at 4.2750/2850 from 4.2780/2830 of yesterday's close. — Reuters pic
“The global demand has now improved slightly but the fear of Covid-19 resurgence is still out there. This is because, if global markets are closed again for the second time; the oil market will crash,” he said. “Globally, we have seen the unemployment rate spiked due to Covid-19 including in developed nations such as the US and the United Kingdom. Malaysia is not spared from it. However, the government’s initiative is expected to mitigate the impact in the long run,” he said.Japanese yen continues its bullish momentum on risk-on sentiment as Yen is considered as a safe haven in the Asian region as the ringgit slipped to 4.0032/0129 from 3.9844/9894 at yesterday’s close.
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