My Marketiva Forex Blog  

KUALA LUMPUR, Aug 10 (Bernama) — The ringgit ended higher against the U.S. dollar Thursday supported by active buying on the local unit, dealers said.

At 5 pm, the local currency was traded at 3.6590/6620 against the U.S. dollar compared with 3.6610/6660 Wednesday.

“This was the highest level since Monday this week,” said one of the dealers.

He said the ringgit is expected to further strengthen against the greenback Friday with the U.S dollar facing pressure in overseas market following the decision by the Federal Reserve policy-making committee to keep interest rate unchanged.

“Bearing in mind that the dollar is weakening and other curencies are strengthening, there is room for the ringgit to appreciate,” he said.

Meanwhile, the ringgit closed mixed against other major currencies due to profit taking activities.

The local currency was lower against the Singapore dollar at 2.3315/3341 from 2.3283/3322 and weaker against the yen at 3.1853/1891 from 3.1813/1864 previously.

Against the euro, the ringgit appreciated to 4.7062/7119 from 4.7088/7167 and increased against the pound sterling to 6.9576/9640 from 6.9859/9966 Wednesday.

– BERNAMA

• Single or Mass Close Order
  This is a simple tutorial, how you close trade position manually, for single close click tab Position, and then click one of Postion ID, small window will appear with [...]
• UK Stock Market 9th August 2006
 Forex - Pound moves back up as BoE's King sees 50 pct chance of 3 pct inflation LONDON (AFX) - The pound moved higher, having initially fallen in the wake of [...]
• Dollar buoyed by better-than-expected US trade news
 The dollar pushed higher after better-than-expected US trade data for June. The Commerce Department said the US trade deficit narrowed a touch to 64.8 bln usd in June, compared with a [...]