KUALA LUMPUR: The ringgit strengthened against the US dollar in early session today on an overnight recovery of oil prices but investors are cautious over a possible escalation of United States (US)-China trade war risk, said an analyst.
At 9.08 am today, the local note was quoted at 4.3470/3550 against the greenback compared with Thursday’s close of 4.3540/3600.
AxiCorp global chief market strategist Stephen Innes said a recovery in oil prices overnight was positive for the ringgit, but bullish ambitions continue to get thwarted by a possible escalation in trade war risk.
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