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KUALA LUMPUR: The ringgit ended higher against the US dollar, buoyed by the apparent ceasefire in the Israel-Iran conflict, said an economist.Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said the de-escalation also led benchmark Brent crude oil prices to retreat to US$69.56 per barrel, as risks to global oil supply appear contained for now.“Financial markets are responding with a sense of relief, and risk appetite is gradually returning.“Still, it’s early days.
“In summary, market sentiment may stay guarded in the short-term, while policymakers are likely to remain vigilant in balancing growth and stability,” he added.At 6pm, the local currency rose to 4.2410/4.2465 versus the greenback from yesterday’s close of 4.2915/4.2980.At the closing, the ringgit traded mostly lower against a basket of major currencies.It trended lower against the Japanese yen at 2.9256/2.9296 from 2.9028/2.9074 at yesterday’s close, declined versus the British pound to 5.
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