Malaysian Ringgit Advances To 3-day High Against U.S. Dollar
May 22 2015 - 1:57AM
RTTF2
The Malaysian ringgit strengthened against the U.S. dollar in
the Asian session on Friday, after data showed that the nations'
consumer price inflation accelerated at a slower-than-expected pace
in April.
Data from the Department of Statistics showed that Malaysia's
consumer price index rose 1.8 percent year-over-year in April,
faster than previous month's 0.9 percent climb. Economists had
expected a 2.2 percent increase for the month. On a monthly basis,
consumer prices moved up 0.9 percent in April.
Against the greenback, the ringgit rose to a 3-day high of
3.5845. At yesterday's close, the ringgit was trading at 3.6025
against the greenback.
If the ringgit extends its uptrend, it is likely to find
resistance around the 3.50 area.
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