The Ringgit weakened against the Singapore dollar but appreciated against the Yen also, depreciated against the British pound & increased against the Euro.

Malaysia: The ringgit was unchanged against the US dollar in the absence of fresh direction and on subdued demand for the local note, amid the firmer greenback, dealers said.

At 9.03 am, the local unit was pegged at yesterday’s close of 3.9800/9850.

OANDA Head of Trading (Daily Forex Signals) in Asia-Pacific Stephen Innes said the ringgit remained mired in political risks as the market tried to understand the new government’s plan to deal with the fiscal deficit after repealing the Goods and Services Tax.

Meanwhile, the local unit traded (Forex Signal Malaysia) mixed against a basket of currencies.

The ringgit weakened against the Singapore dollar to 2.9629/9677 from Wednesday’s 2.9606/9653, but appreciated against the yen to 3.6287/6340 from 3.6311/6369.

It depreciated against the British pound to 5.3185/3264 from 5.3133/3216 and increased against the euro to 4.6602/6668 from 4.6662/6728.

Forex Trading Strategies

  

For More Visit Us: www.mmfsolutions.sg/

Tel- +65-3158-2180 Email- info@mmfsolutions.sg