๐ Ringgit Rebounds Against US Dollar on Improved Risk Appetite! ๐ฒ๐พ๐ต
The Malaysian ringgit closed stronger today, reflecting growing investor confidence and a more optimistic market outlook.
โจ Key Highlights:
๐น Stronger Close:
๐ Ringgit rose to 4.2215/2275 against the US dollar
โฌ๏ธ Up from Tuesdayโs 4.2345/2430
๐น Investor Confidence Boosted:
๐ Global uncertainties remain, but appetite for the ringgit is improving
๐ Backed by Malaysia's solid fiscal consolidation strategy
๐น Expert Insight:
๐ฃ๏ธ Dr Mohd Afzanizam (Bank Muamalat Malaysia Bhd):
"Despite strong US economic data, the greenback looks weaker"
๐ก Malaysiaโs reforms and disciplined budgeting are driving confidence
๐น US Influence:
๐บ๐ธ Consumer Confidence Index up from 85.7 โก๏ธ 98.0
๐ Postponement of US-EU tariffs to July 9 signals willingness to negotiate
๐น Ringgit Gains Across the Board:
๐ด Japanese Yen: 2.9271/9315
๐ถ Euro: 4.7838/7906
๐ท British Pound: 5.7028/7109
๐ธ๐ฌ Singapore Dollar: 3.2776/2825
๐น๐ญ Thai Baht: 12.9355/9614
๐ต๐ญ Philippine Peso: 7.60/7.62
๐ฎ๐ฉ Indonesian Rupiah: 259.0/259.5
