KUALA LUMPUR: The ringgit rebounded to open higher against the US dollar today, amid renewed buying interest after index provider FTSE Russell retained Malaysian bonds on its watch list yesterday.
At 9.03am, the local note was at 4.1880/1920 against the greenback compared with yesterday's close of 4.1930/1980. FTSE Russell also retained China's onshore government bonds on a watch list for a possible upgrade, which could allow Chinese debt entry into its World Government Bond Index (WGBI).
Axicorp Asia Pacific market strategist Stephen Innes said China’s currency yuan would be disheartened by FTSE Russell in leaving out Chinese’s bond from the flagship WGBI, which will likely hold back traders from embarking on a semblance of a relief rally.
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