Ringgit Goes Higher as Traders Bet on Stimulus
The Malaysian ringgit strengthened today on hopes that central banks of developed nations would stimulate their economies and on the general risk-positive sentiment of Forex traders.
The Bank of Japan released the minutes of its last monetary policy meeting, showing that the policy makers is still considering implementing of stimulus measures. Other central banks are also expected to ease their policies amid signs of economic slowdown. There was less bad news recently, leading to less volatile trading that is positive for risk appetite of speculators.
USD/MYR fell from 3.1210 to 3.1193 as of 15:54 GMT today.
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Earlier News About the Malaysian Ringgit:
- Ringgit Rises on Easing Speculations (2012-07-27)
- Malaysian Ringgit Falls as Global Economy Not Supportive for Risky Currencies (2012-07-11)
- Ringgit Gains as US Factory Orders Beat Expectations, Falls Back (2012-07-04)
- Ringgit Gains as Spain's Bailout Improves Traders' Mood (2012-06-11)
- Ringgit Falls as China's Growth & US Recovery Slows (2012-06-04)