📈 Ringgit Rebounds Against US Dollar on Improved Risk Appetite! 🇲🇾💵
The Malaysian ringgit closed stronger today, reflecting growing investor confidence and a more optimistic market outlook.
✨ Key Highlights:
🔹 Stronger Close:
📊 Ringgit rose to 4.2215/2275 against the US dollar
⬆️ Up from Tuesday’s 4.2345/2430
🔹 Investor Confidence Boosted:
🌍 Global uncertainties remain, but appetite for the ringgit is improving
📈 Backed by Malaysia's solid fiscal consolidation strategy
🔹 Expert Insight:
🗣️ Dr Mohd Afzanizam (Bank Muamalat Malaysia Bhd):
"Despite strong US economic data, the greenback looks weaker"
💡 Malaysia’s reforms and disciplined budgeting are driving confidence
🔹 US Influence:
🇺🇸 Consumer Confidence Index up from 85.7 ➡️ 98.0
🕒 Postponement of US-EU tariffs to July 9 signals willingness to negotiate
🔹 Ringgit Gains Across the Board:
💴 Japanese Yen: 2.9271/9315
💶 Euro: 4.7838/7906
💷 British Pound: 5.7028/7109
🇸🇬 Singapore Dollar: 3.2776/2825
🇹🇭 Thai Baht: 12.9355/9614
🇵🇭 Philippine Peso: 7.60/7.62
🇮🇩 Indonesian Rupiah: 259.0/259.5
