MMFS: Your segmented signals investment advisory firm

Thursday, 9 November 2017

Trump’s tax reform plan #ringgit traded higher.

Malaysia: The ringgit opened higher against the US dollar for the third consecutive day today as more investors shifted to emerging currencies due to worries over possible delays to US President Donald Trump’s tax reform plan, dealers said.
At 9.02 am, the local unit was traded at 4.2270/2300 against the greenback from 4.2280/2300 on Wednesday.
The ringgit was also traded higher against a basket of major currencies.
It increased against the Singapore dollar to 3.1012/1044 from 3.1015/1039 on Wednesday and appreciated versus the yen to 3.7056/7089 from 3.7176/7203 yesterday.
Against the British pound, the ringgit rose to 5.5416/5468 from 5.5522/5565 yesterday and strengthened versus the euro to 4.8970/9017 from 4.9011/9038 on Wednesday.

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