KUALA LUMPUR, April 1 — The ringgit closed slightly higher against the US dollar amid firmer oil prices, analysts said.
At 6pm, the local currency was traded at 4.1440/1470 against the greenback from Wednesday’s close of 4.1450/1480.
Axi chief global market strategist Stephen Innes said, however, risks for the lower side for the ringgit remained as investors were cautious during this pre-Easter holiday period ahead of the US jobs data report this Friday.
“Markets are expected to stay in a relatively low volume due to investors awaiting the US jobs data report to see how the US yields will react and the uncertainty on the Organisation of the Petroleum Exporting Countries’ (OPEC) production cut extension,” he told Bernama.
As at the time of writing, benchmark Brent crude advanced 2.09 per cent to trade at US$64.05 per barrel.
Meanwhile, against other major currencies, the ringgit was closed mostly higher.
It rose against the Singapore dollar to 3.0774/0803 from 3.0811/0845 and ticked up vis-a-vis the yen to 3.7387/7418 from 3.7488/7518 yesterday.
The local note also strengthened against the British pound to 5.7063/7112 from 5.7118/7172 on Wednesday but declined against the euro to 4.8646/8690 from 4.8617/8656 previously.
— Bernama
