tags - Sinar Daily

The ringgit extended its downtrend against the US dollar this morning, breaching the 4.6 level as the greenback continued to strengthen on the expectation of an interest rate hike in US.

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The ringgit improved versus the US dollar in early trade on Tuesday amid hopes for an agreement on raising the US debt ceiling.

The ringgit snapped its three-day losing streak to open higher against the US dollar in the early session today as the greenback softened following a lower-than-expected US April CPI data released last night.

The ringgit opened higher against the US dollar on Friday, buoyed by the increase in OPR to 3.00 per cent, but the ringgit-dollar pair is projected to trade in a narrow range as risk-off mode leads to increased demand for the greenback.

The ringgit opened lower against the US dollar today, weighed by a stronger greenback on renewed interest for safe haven currencies, an analyst said.

The ringgit opened higher against the US dollar on Tuesday amid a weakening greenback against major currencies.

The ringgit rose against the US dollar in the early session today as the United States Federal Reserve officials continued their hawkish stance, favouring another 25 to 75 basis points interest rate hike in the near term.

The ringgit continued to slide against the US dollar in the early session today as the local currency remained in an overbought position ahead of an expected rise in US interest rates in May, said an analyst.

The ringgit opened higher against a weaker US dollar on Thursday, following the release of the United States (US) inflation data, said an analyst.