Ringgit surges to 4.18 amid positive domestic factors

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Ringgit surges to 4.18 amid positive domestic factors
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KUALA LUMPUR: The ringgit settled at a 30-month high of 4.1815 against the US dollar as at noon, which puts it on track to ending the week as the world's top-performing currency.

"The ringgit rally occurred despite the USD index remaining fairly anchored around the 100.6 mark and the 10-year Malaysian Government Securities -US Treasury yield differential turning negative again due to a rebound in long-term UST yields," it said. Over the coming weeks, Kenanga expects the ringgit to trade stronger in the 4.15-4.20 range, supported by Malaysia's favourable yield differential, especially compared to developed economies.

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