Bullish February trade lifts ringgit higher against US dollar

[superadmin]

KUALA LUMPUR (April 13): The ringgit snapped its five-day losing streak against the US dollar in the early trade on Wednesday (April 13) as the encouraging trade figures for February sparked risk appetite for the local currency, a dealer said.

At 9am, the local note had risen to 4.2290/2320 versus the greenback from Tuesday’s close at 4.2305/2330.

“This (the trade performance) managed to offset the currently stronger US dollar on the back of growing expectations that the US Federal Reserve might increase its key rate as the latest data showed that inflation was higher than expected.

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