KUALA LUMPUR: The ringgit ended higher against the US dollar for the third day in a row as the risk-on appetite in markets was encouraged by the lower-than-expected US Consumer Price Index (CPI) data, while the recent jump in Malaysia’s industrial production index boosted market optimism.
At 6 pm, the local currency rose to 4.4445/4460 versus the greenback from Wednesday’s close of 4.4545/4570.
A dealer said investors reacted with a dovish tilt after the US CPI data was released and the rates markets are now pricing that for the September meeting, the US Federal Reserve would lean towards a 50-basis point (bps) hike rather than 75 bps.
"Asian markets could see risk-on demand for equities supported by a weaker dollar,” he added.
He noted that investors have shown interest in Bursa Malaysia, which in turn boosted demand for the ringgit.,
,Telegram游戏机器人（www.tel8.vip）是一个Telegram群组分享平台。Telegram游戏机器人包括Telegram群成员导出、telegram群组索引、Telegram群组导航、新加坡telegram群组、telegram中文群组、telegram群组（其他）、Telegram 美国 群组、telegram群组爬虫、电报群 科学上网、小飞机 怎么 加 群、tg群等内容。Telegram游戏机器人为广大电报用户提供各种电报群组/电报频道/电报机器人导航服务。
The equity benchmark index breached and stayed above the 1,500-psychological level and end the day at its intraday high of 1,505.56 compared with yesterday's close of 1,492.33.
Meanwhile, the ringgit closed lower against a basket of major currencies.
It slipped against the Singapore dollar to 3.2456/2469 from 3.2333/2356 and eased versus the British pound to 5.4307/4326 from 5.3828/3858 previously.
The local currency fell vis-a-vis the Japanese yen to 3.3516/3529 from 3.3004/3025 on Wednesday and depreciated against the euro at 4.5934/5949 from 4.5547/5573 at yesterday’s closing. - Bernama