Malaysian Ringgit Rises To Near 2-week High Against U.S. Dollar
July 31 2016 - 8:48PM
RTTF2
The Malaysian ringgit strengthened against the U.S. dollar in
the late Asian session on Monday, as oil prices rose.
In economic news, data from Markit Economics showed that
Malaysia's manufacturing activity contracted further in July,
though at a softer pace than a month ago. The headline Nikkei
manufacturing Purchasing Managers' Index rose to 48.1 in July from
47.1 in June.
Against the U.S. dollar, the ringgit rose to nearly a 2-week
high of 4.0128 from an early low of 4.0500. At Friday's close, the
ringgit was trading at 4.0275 against the greenback.
If the ringgit extends its uptrend, it is likely to find
resistance around the 3.92 area.
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