Markets remained cautious amid a lack of fresh developments in negotiations between the US and Iran, says analyst.
Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said the ringgit remained range-bound against the US dollar, hovering between RM3.9528 and RM3.9575.
He said markets remained cautious amid a lack of fresh developments in negotiations between the US and Iran.
“Traders and investors are hopeful that a near-term compromise could extend the ceasefire and facilitate the eventual reopening of the Strait of Hormuz,” he told Bernama.
At 6pm, the local currency stood at 3.9510/3.9550 against the greenback, compared with 3.9490/3.9530 yesterday.
At the close, the ringgit traded mostly higher against a basket of major currencies.
It strengthened against the euro to 4.6408/4.6455 from 4.6436/4.6483 yesterday and appreciated versus the Japanese yen to 2.4794/2.4821 from 2.4802/2.4829, but weakened against the British pound to 5.3414/5.3468 from 5.3323/5.3377.
The local currency also traded firmer against regional peers.
It advanced against the Singapore dollar to 3.1030/3.1063 from 3.1043/3.1077 and inched up against the Thai baht to 12.2717/12.2902 from 12.2983/12.3162.
The ringgit rose against the Indonesian rupiah to 229.9/230.2 from 230.3/230.7 and gained against the Philippine peso to 6.57/6.58 from 6.59/6.60 previously. - FMT
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