Ringgit extends gains against the greenback
KUALA LUMPUR: The ringgit extended its gains against the US dollar at yesterday's close, lifted by the latest fiscal support measures announced by the government as foreign funds flocked into the local equity market, says an analyst.
The local currency was also supported by optimism following the US-Japan trade deal which boosted Asian equity and foreign exchange markets across the board.
At 6pm, the ringgit rose to 4.2255/2300 versus the greenback compared with Tuesday's close of 4.2300/2370.
SPI Asset Management managing partner Stephen Innes said the ringgit was supported by regional tailwinds after US President Donald Trump struck a 'massive' trade deal with Japan on Tuesday, which included cutting US tariff on the latter to 15% from 25%
The deal had boosted market optimism which lifted stocks and Asian currencies, including the ringgit. — Bernama
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