KUALA LUMPUR: The ringgit was higher against the US dollar early Thursday backed by better interest from investors as the US Federal Reserve indicated a neutral interest rate hike next year. At 9.00 am (0100 gmt), the ringgit stood at 4.1935/1975 versus the US dollar from 4.1980/2020 on Wednesday. A clear direction on what would happen next relies on the talks between President Donald Trump and President Xi Jinping. - ReutersMeanwhile, AmBank Research said following the Fed Powell’s dovish-tilted speech, it foresees appetite for risk assets to improve, which should bode well for EM currencies. As for the ringgit, the local unit had on Wednesday fell by 0.30% to 4.201 against the greenback.

Source: thestar November 29, 2018 02:05 UTC