Latest news with #USdollar
Malay Mail
2 hours ago
- Business
- Malay Mail
Ringgit ends higher against dollar on safe-haven retreat, but mixed against major currencies
KUALA LUMPUR, June 20 — The ringgit rebounded from yesterday's losses to end higher against the US dollar on Friday, as the latest developments on the Iran-Israel war sparked some buying interest in emerging currencies, a dealer said. At 6 pm, the local note strengthened to 4.2505/2565 versus the greenback from yesterday's close of 4.2590/2625. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said that the Israel-Iran war continued to take centre stage as the United States was still weighing its option to participate in the conflict. 'White House spokeswoman Karoline Leavitt indicated that President Donald Trump will make his decision whether or not to go within the next two weeks. The US Dollar Index (DXY) fell 0.22 per cent to 98.691 points,' he told Bernama. However, the ringgit traded mostly lower against a basket of major currencies at the close. It slipped versus the British pound to 5.7356/7437 from 5.7164/7211 at Thursday's close and declined vis-à-vis the euro to 4.9000/9069 from 4.8868/8908 yesterday, but appreciated against the Japanese yen to 2.9245/9289 from 2.9286/9312 previously. The ringgit performed mixed against its Asean peers. The local note advanced versus the Indonesian rupiah to 259.2/259.7 from 259.5/259.9 on Thursday and rose vis-à-vis the Thai baht to 12.9727/9969 from 12.9966/13.0513 previously. However, it weakened against the Singapore dollar to 3.3088/3140 from 3.3072/3102 yesterday and slid versus the Philippine peso to 7.43/7.45 from 7.41/7.42 at the previous close. — Bernama
Free Malaysia Today
12 hours ago
- Business
- Free Malaysia Today
Ringgit ends lower amid global financial concerns
KUALA LUMPUR : The ringgit continued to end lower against the greenback today, weighed down by emerging concerns over the global financial outlook, a dealer said. Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said the ringgit depreciated to as low as RM4.2633 during the morning session as the US federal open market committee (FOMC) members were reluctant to cut rates excessively in light of concerns over higher inflation risk in the second half of 2025. 'This was reflected in their latest quarterly forecast of personal consumption expenditures price index (PCE) inflation, which is expected to reach 3% for 2025 versus the actual figure of 2.1% in April 2025,' he told Bernama. He added that sentiments will remain guarded as the market participants are wary of the potential escalation of the Israel-Iran conflict. At 6pm, the local currency slid to 4.2590/4.2625 versus the US dollar from yesterday's close of 4.2500/4.2550. Conversely, the ringgit traded higher against a basket of major currencies at the close. It rose against the British pound to 5.7164/5.7211 from 5.7218/5.7285 at the close yesterday, gained vis-à-vis the euro to 4.8868/4.8908 from 4.8888/4.8945 yesterday and appreciated versus the Japanese yen to 2.9286/2.9312 from 2.9322/2.9359 previously. The ringgit was also higher against its Asean peers. It advanced versus the Indonesian rupiah to 259.5/259.9 from 260.5/260.9 yesterday, strengthened against the Singapore dollar to 3.3072/3.3102 from 3.3074/3.3115 yesterday, and was up vis-à-vis the Thai baht to 12.9966/13.0513 from 13.0240/13.0449 previously. The local unit also rose against the Philippine peso to 7.41/7.42 from 7.46/7.48 at yesterday's close.
Free Malaysia Today
12 hours ago
- Business
- Free Malaysia Today
Ringgit opens higher amid Iran-Israel conflict
KUALA LUMPUR : The ringgit opened higher against the US dollar on Friday as investors remained cautious amid the escalating conflict in the Middle East, according to an analyst. At 8am, the local note rose to 4.2490/2700 against the greenback from yesterday's close of 4.2590/2625. Bank Muamalat Malaysia chief economist Afzanizam Abdul Rashid said market sentiment would likely be cautious as traders and investors were keeping tabs on the Israel-Iran conflict, while the US considers its response to the currency pressures.
Malay Mail
13 hours ago
- Business
- Malay Mail
Ringgit rises in uncertain waters as markets eye Iran-Israel tensions
KUALA LUMPUR, June 20 — The ringgit opened higher against the US dollar on Friday as investors remained in cautious mode amid the escalating conflict in the Middle East, said an analyst. At 8 am, the local note rose to 4.2490/2700 against the greenback from yesterday's close of 4.2590/2625. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said market sentiment will likely be cautious as traders and investors watch the evolving Israel-Iran conflict, while the US is considering its response to the currency pressures. 'Still, the US Dollar Index (DXY) hovering below 100 points signals that traders may be going to different major currencies or asset classes to seek protection,' he told Bernama. However, in light of the heightened uncertainties, Mohd Afzanizam said the ringgit could remain weak in the near term. At the opening, the ringgit traded mostly lower against a basket of major currencies. It declined versus the British pound to 5.7264/7547 from 5.7164/7211 at Thursday's close and fell against the euro to 4.8910/9152 from 4.8868/8908 previously. However, it was slightly higher against the Japanese yen at 2.9257/9404 from 2.9286/9312 previously. Conversely, the local note trended higher against its Asean counterparts. It appreciated against the Singapore dollar to 3.3051/3219 from 3.3072/3102 at yesterday's close, climbed to 12.9883/13.0593 from 12.9966/13.0513 versus the Thai baht, inched up vis-a-vis the Indonesian rupiah to 258.9/260.3 from 259.5/259.9 and gained against the Philippine peso to 7.39/7.44 from 7.41/7.42. — Bernama
Asharq Al-Awsat
2 days ago
- Business
- Asharq Al-Awsat
Dollar Hovers as Investors Focus on Israel-Iran Conflict ahead of Fed Decision
The US dollar dipped against the yen and steadied against the Swiss franc on Wednesday, as fighting between Israel and Iran prompted investors to scoop up safe havens, while a Federal Reserve decision later on rates kept volatility subdued. Israel has bombarded arch-enemy Iran over the past six days to halt its nuclear activity and has asserted the need for a change of government in the Islamic Republic. The US military is also bolstering its presence in the region, Reuters reported, stirring speculation about US intervention that investors fear could widen the conflict in an area with critical energy resources, supply chains and infrastructure. Iranian Supreme Leader Ali Khamenei said in a statement read by a state television presenter on Wednesday that his country would not accept US President Donald Trump's call for an unconditional surrender. The dollar has resumed its role as a safe haven, having gained around 1% against both the Japanese yen and Swiss franc since last Thursday. On Wednesday, theurrency took a breather, edging fractionally lower against the yen and the franc and more noticeably so against the euro and the pound. "The dollar is still a safe haven because of its depth and liquidity, so, yes, the structural forces are diluting the dollar safe-haven activities, but they're not eroding them completely," said currency strategist Rodrigo Catril at National Australia Bank. "But in a scenario of big risk aversion, the dollar will still gain support, but maybe not to the same extent it has managed in the past." Against a basket of six other major currencies, the dollar is still down around 8% so far this year, as confidence in the US economy and the reliability of Trump's administration as a trading and diplomatic partner has faded. With the Fed's decision on interest rates just hours away and US markets closed on Thursday for the Juneteenth federal holiday, activity in currencies was muted. Against the yen, the dollar fell 0.3% to 144.845 and was steady against the franc at 0.8175 francs.
