Risk assets and oil prices may be hit, taking down currencies of commodity producing countries, especially the Russian ruble, Colombian peso and ringgit, according to Bloomberg.
KUALA LUMPUR: The ringgit continued its positive momentum today in opening higher against the US dollar in the face of strengthening oil prices.
At 9 am, the local note was traded at 4.0940/0970 versus the US dollar from yesterday's close of 4.0980/1020.
A dealer said the stronger ringgit followed US Federal Reserve (Fed) Chairman Jerome Powell's comments on last Friday, which were seen as being less hawkish.
At 9am, the benchmark Brent crude oil was recorded at US$76.79 per barrel.
Meanwhile, the ringgit traded mostly lower against a basket of other currencies.
It depreciated against the British pound to 5.2776/2823 from 5.2622/2694 yesterday, fell against the Singapore dollar to 3.0050/3.0076 from 2.9998/0038 and was lower against the euro at 4.7851/7902 from 4.7606/7657.
The local note was better against the yen at 3.6800/6837 from 3.6876/6922. - Bernama
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