Ringgit inches up against US dollar on light demand amid cautious market mood
The Malaysian ringgit closed slightly higher against the US dollar, reaching 4.2795/2870, driven by moderate demand. Traders remain cautious, observing economic developments. While regional sentiment favors stronger Asian currencies, the ringgit's direction is unclear. Speculation links a potentially weaker US dollar to US-South Korea trade talks, but the ringgit's response was limited. It performed mixed against other currencies, strengthening against the Japanese yen, euro, British pound, Singapore dollar, and Thai baht, but weakening against the Indonesian rupiah and Philippine peso.