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Monday, 9 April 2018

#Malaysia-ringgit is expected to trade between its immediate support an also, depicting a tightening oil market has China implied target tariffs towards US.

Malaysia: The ringgit opened higher against the US dollar today as the trade dispute between the US and China further pressured the greenback, dealers said.
At 9 am, the ringgit was quoted at 3.8610/8660 compared with Friday's 3.8650/8680.
A dealer said the ringgit is expected to trade between its immediate support level of 3.8602, while the resistance level is capped at 3.8732 against the US dollar.
"Trade concerns overshadowed data released last week depicting a tightening oil market, specifically after China implied it could target tariffs towards US shale oil exports,” he said.
The local unit, however, traded mix against a basket of major currencies.
It rose against the Singapore dollar to 2.9368/9413 from 2.9407/9437 on Friday, but depreciated against the yen to 3.6111/6165 from 3.6101/6133.
The ringgit eased against the pound to 5.4409/4495 from 5.4346/4407, but was higher against the euro at 4.7374/7451 from 4.7439/7491.
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