Ringgit Remains Lower Even as Risk Aversion Eases
The Malaysian ringgit remains down on today’s trading session even as good news from Europe eased risk aversion sentiment among Forex traders.
Pessimism ruled the Forex market at the start of the session as Spain’s borrowing costs surged. Tensions eased after Franc auctioned its debt, showing lower yield. Some currencies profited from the positive news, but the ringgit wasn’t among them. Uncertainty about the future development of the situation in Europe is still present and subdues riskier currencies.
USD/MYR was higher today at 3.1717 as of 19:25 GMT from the opening of 3.1515.
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Earlier News About the Malaysian Ringgit:
- Malaysia's Ringgit Goes Down as Tension Grows (2011-11-02)
- Ringgit Gains as Fed Stimulus Can Boost Exports (2011-10-05)
- Ringgit Falls as Europe Damages Growth Prospects for Asia (2011-09-20)
- Europe Weakens Asian Currencies, Malaysian Ringgit Down (2011-09-06)
- Malaysian Ringgit Gains on US Housing & Global Stocks (2011-07-20)
