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ios developer account:Ringgit retraces sell-off to open higher

admin2020-12-2571

KUALA LUMPUR: The ringgit opened higher against the US dollar today on the back of improving crude oil prices.At 9.04am, the ringgit was quoted at 4.0560/0620 versus the greenback, compared with 4.0610/0650 on Wednesday.The benchmark Brent crude stood at US$51.10 per barrel at the opening.Axi chief global market strategist Stephen Innes said markets are retracing the Asian sell-off, supported by the resumption of transportation links between United Kingdom and France, while medical experts have warned against overreaction to the new COVID-19 strain in London."However, we are still dealing with the same major market risks -- United States stimulus package, Brexit, COVID-19, and President Trump,” he said.Meanwhile, the ringgit was traded mixed against other major currencies.The local note eased against the Singapore dollar to 3.0473/0523 from 3.0463/0497 at Wednesday’s close but rose against the euro to 4.9499/9589 from 4.9516/9573.It had also appreciated against the Japanese yen to 3.9158/9220 from 3.9256/9298 yesterday but weakened against the British pound to 5.4857/4959 from 5.4490/4556 previously. - Bernama
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