<\/p>\n\n\n\n
By Niam Seet Wee<\/strong><\/p>\n\n\n\n KUALA LUMPUR, Dec 2 (Bernama) — The ringgit reversed\nrecent losses to open firmer against the US dollar Wednesday, as it tracked\nother Asian currencies\u2019 gains, lifted by a solid November manufacturing\nPurchasing Managers’ Index (PMIs) in the region, along with stimulus and\nCOVID-19 vaccine optimism.<\/p>\n\n\n\n At 9 am, the local note was 70 basis points firmer at\n4.0690\/0750 against the greenback from 4.0760\/0800 at Tuesday\u2019s close.<\/p>\n\n\n\n Axi chief global market strategist Stephen Innes said\nrelatively attractive yields versus the Group of Ten (G10) suggested that\ninvestment flow into local bond and equity markets in the region would\ncontinue.<\/p>\n\n\n\n On the ringgit, he, however, expressed concern that the\nupside would be capped by the Organisation of the Petroleum Exporting\nCountries (OPEC) quota extension meeting.<\/p>\n\n\n\n \u201cLocal traders might turn a cautious eye on the OPEC\nquota extension meeting proceedings, which are now presenting a crater on the\nroad instead of a minor speed bump,\u201d he told Bernama today.<\/p>\n\n\n\n Tuesday, it was reported that the scheduled OPEC+ meeting\nwould be pushed back to Dec 3,2020 to give ministers more time to reach an\nagreement over production.<\/p>\n\n\n\n Back home, the ringgit was traded mostly lower against\nother major currencies, except the yen.<\/p>\n\n\n\n It weakened against the Singapore dollar to 3.0429\/0486 from\n3.0388\/0430 at the close on Tuesday, retreated against the euro to\n4.9092\/9169 from 4.8826\/8891 and declined against the pound to\n5.4602\/4687 from 5.4427\/4501.<\/p>\n\n\n\n Vis-a-vis the yen, the ringgit, however, strengthened\nto 3.8994\/9055 from 3.9080\/9129 at Tuesday\u2019s close.<\/p>\n\n\n\n — BERNAMA<\/p>\n","protected":false},"excerpt":{"rendered":" By Niam Seet Wee KUALA LUMPUR, Dec 2 (Bernama) — The ringgit reversed recent losses to open firmer against the US dollar Wednesday, as it tracked other Asian currencies\u2019 gains, lifted by a solid November manufacturing Purchasing Managers’ Index (PMIs) in the region, along with stimulus and COVID-19 vaccine optimism. At 9 am, the local note was 70 […]<\/p>\n","protected":false},"author":29,"featured_media":104139,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[288,300,318],"tags":[],"_links":{"self":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/104133"}],"collection":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=104133"}],"version-history":[{"count":0,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/104133\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/media\/104139"}],"wp:attachment":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=104133"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=104133"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=104133"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}