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 lower against the US dollar in early trade today on weaker demand for the local note, following the release of favourable economic data in the United States.
At 9.07 am, the local unit traded at 4.1350/1380 against the greenback from 4.1250/1300 at the close yesterday.
A dealer said investors shifted towards the greenback after the data on sales of new US single-family homes jumped to a near one and a half year high in March.
“This data helped reduce worries of a slowdown in the United States' economy, thus providing a boost for the US dollar,” he added.
Meanwhile, the ringgit traded mixed against a basket of major currencies.
It rose against the Singapore dollar to 3.0346/0380 from 3.0351/0392 and improved against the euro to 4.6114/6151 from 4.6254/6326 on Wednesday.
The ringgit fell against the Japanese yen to 3.6874/6910 from 3.6870/6921 and depreciated against the British pound to 5.3366/3409 from 5.3365/3446. - Bernama
Over the immediate term, Ambank research expects risk-off sentiment to prevail in the Asian markets as investors flocked to safe haven papers overnight.
"In the absence of any major economic data to be released for the day, the markets will most likely adopt a waitand-see attitude ahead of Friday’s US 1Q2019 GDP print," it said.
It added that the selloff in the ringgit and Malaysian bonds are overdone.
"We noticed growing confidence in the market that the local authority would come out with measures to curb FTSE Russell from dropping MYR bonds from its index," it said.
In a morning note, Ambank pegged the ringgit to trade between a support level of 4.1095 and 4.1165 and a resistance level of 4.1344 and 4.1442.
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