KUALA LUMPUR: The ringgit rebounded to open higher on Tuesday as risk-on mood and steady oil prices supported demand.
AxiCorp chief global market strategist Stephen Innes said the ringgit’s strong trading today is supported by improving global risk sentiment, triggering a weaker US dollar.“Still, the bullish view is probably getting held back by yesterday’s worse-than-expected trade numbers and the constant cloud of political uncertainty ahead of China’s Golden Week, when liquidity typically dries up,” he told Bernama.
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