Ringgit opens higher against US dollar

 

KUALA LUMPUR: 

The ringgit opened slightly higher against the US dollar and similarly the US dollar index (DXY) with strong economic data supporting the greenback, an analyst said.

At 8am, the ringgit strengthened to 4.3900/3975 against the greenback, compared to Tuesday’s close of 4.3905/3980.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the DXY edged higher to 108.169 points owing to strong economic data as well as threats of higher import tariffs being imposed on Mexico, Canada and possibly China by the US have ratcheted up. - FMT

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