The U.S. dollar fell 0.5 percent against a basket of currencies after rallying for six consecutive days, as investors looked to book profits. The yen rebounded 0.7 percent against the dollar, halting declines against the greenback as Japan has threatened to intervene on its currency.
PETALING JAYA: The ringgit was the biggest gainer among regional currencies yesterday, as investor sentiment towards Malaysia improved after crude oil prices breached US$50 (RM203.94) per barrel for the first time since November 2015. Friday morning it strengthened further.
Analysts noted that the dissipation of fear over a potential interest rate hike in the United States next month also helped buoy the ringgit, which moved in tandem with other emerging-market currencies.
Limited time offer:
Just RM5 per month.
