The ringgit appreciated against the US dollar at the close on Monday due to renewed buying interest, driven by optimism over potential interest rate cuts in the United States (US). At 6 pm, the ringgit rose to 4.6850/6875 versus the greenback from Friday’s close of 4.6865/6890.
Market sentiments remain positive with the ringgit continuing to be well supported at RM4.68, while the US dollar Index (DXY) was steady at around 104 points.
Meanwhile, Bursa Malaysia trends higher during Monday’s midday break, echoing the positive sentiment seen in many regional markets. The 30-stock index advanced 12.28 points, or 0.76% to 1,628.90 at midday after rising to an intra-morning high of 1,629.81.
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We expect the benchmark to trade within the 1,725–1,740 range today.
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