Malaysian Ringgit Unchanged Against US Dollar

KUALA LUMPUR, Dec 12 (Bernama) – The Malaysian ringgit was unchanged on Wednesday following renewed optimism for the trade talks between the two largest economies in the world, the United States and China. At 6 pm, the local note was traded at 4.1830/1860 against the US dollar from Monday’s close of 4.1830/1880. FXTM Research Analyst Lukman Otunuga said the overall market mood was boosted by reports of top US and Chinese officials discussing the promotion of the next economic and trade consultations. “However, global sentiment later took a hit after President Donald Trump threatened to shut the Federal government over border security. “Although easing trade tensions are seen injecting equity bulls with fresh inspiration, the upside is poised to face numerous headwinds down the road,” he said in a statement. Otunuga stressed that as concerns over plateauing global growth, heightened political risk in France, Brexit turmoil and other geopolitical tensions weighed on markets, global stocks remained in the firing line. Against the major currencies, vis-a-vis the pound, the ringgit climbed to 5.2434/2501 from Tuesday's 5.2773/2827 and it rebounded against the euro to 4.7398/7471 from Tuesday's 4.7603/7653 . It was weakened slightly against the Singapore dollar at 3.0462/0509 from 3.0473/0506 on Tuesday and edged down against the yen to 3.6858/6912 from 3.7008/7038 yesterday. -- BERNAMA