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Friday, 14 July 2017

Money have the issue with TAX. Ringgit opens flat!

Malaysia: The ringgit was unchanged in early trade against the US dollar this morning on lack of buying interest, dealers said.

At 9.15am, the local unit stood at yesterday's close of 4.2905/2945 against the greenback.

Senior trader at OANDA, Stephen Innes, said the ringgit is however, in good standing from the macro perspective and offers a good yield return, which should be attractive to investors looking to widen their regional risk appeal.

The greenback seems to be under pressure as investors are keenly waiting for the release of today's US Consumer Price Index inflation report.

The ringgit was traded mostly lower against other major currencies. It declined against the Singapore dollar to 3.1174/1208 from 3.1149/1190 on Thursday, but rose against the yen to 3.7798/7847 from 3.7969/8015. It weakened against the pound to 5.5493/5554 from 5.5442/5511, and eased against the euro to 4.8925/8974 from 4.8890/8949 yesterday.

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