Bank Negara Malaysia's international reserves rose by US$600mil to US$103.3bil as at July 15, 2019 from two weeks prior.
KUALA LUMPUR: The ringgit was traded lower against the US dollar in early trading today due to profit-taking following yesterday's gains, amidst lack of market moving factors.
At 9.06 am, the local unit was traded at 4.1110/1150 against the greenback from 4.1080/1110 recorded at yesterday's close.
A dealer said given the lack of fresh leads in the local market, investors' interest shifted towards the US dollar.
“This is especially considering the United States' yield on the benchmark 10-year Treasury note held steady at 2.5 per cent while the yield on the 30-year Treasury bond was little changed at 2.9 per cent,” he added.
Meanwhile, the ringgit was also traded lower against other major currencies.
It decreased against the Singapore dollar to 3.0387/0425 from 3.0378/0405 and weakened against the Japanese yen to 3.6709/6754 from 3.6698/6728.
The ringgit fell against the British pound to 5.3850/3907 from 5.3815/3866 and depreciated against the euro to 4.6475/6532 from 4.6470/6520. - Bernama
Ambank research in its morning note that markets are focused on the trade talks between the US with the EU and Japan as well as the euro's manufacturing purchasing manager's index (PMI) on Thursday.
"That said, we expect MYR to trade between our support level of 4.0941 and 4.1010 while our resistance is pinned at 4.1168 and 4.1226," it said.
The key focus of the day would be the speech by Dall Federal Reserve Bank president Robert Kaplan.
Limited time offer:
Just RM5 per month.
