The Malaysian ringgit strengthened against the US dollar on Tuesday, buoyed by the postponement of US tariffs on Canada and Mexico. Analysts attributed the positive sentiment to the possibility of a negotiated solution between the countries, although concerns remain about the long-term implications of the trade war.
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Discover the artistic Yi Café in Cheras, where you can enjoy comfort food, learn to paint and even get a haircut!The ringgit settled higher against the US dollar on Tuesday, as the rollback of the US tariffs deadline on Mexico and Canada lifted global growth sentiment.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid stated that the 30-day delay in implementing US import tariffs on Canada and Mexico was the primary factor affecting the currency market. “China has already responded with tariff hike on certain products related to agricultural tools and energy import from the US. As such, the currency market will likely remain volatile,” he told Bernama.
RINGGIT US DOLLAR TARIFFS CANADA MEXICO
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