Ringgit nears 11-month high in 9-day rally against US dollar

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KUALA LUMPUR: The ringgit opened slightly higher today, extending its nine-day upward trajectory against the US dollar and lingering at an 11-month high.

"The two- and ten-year US Treasury yields dropped further by 10 and 11 basis points to 4.26 per cent and 4.03 per cent, respectively.

"This occurred as the FOMC statements suggested that the Fed has become more cautious about the state of the economy and may want to shift their focus towards preserving growth," he told Bernama.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaIndonesiaJapanSingapore

Topics: /Business/Business News Forex FOMC Ringgit US dollar Interest rate

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-01 @ 09:52:00 (2 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 341 words

Reading Time: 2 minutes read

Sentences: 13 lines

Sentence Length: 27 words per sentence (average)

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Copyright Owner: © The Star

News ID: 21879625

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