Ringgit dips as Trump-Xi trade hopes lift dollar
Malaysia’s currency weakened slightly against the dollar on Tuesday as American markets gained strength from expectations of better trade relations with Beijing. The ringgit closed at 4.2280 per dollar compared with 4.2240 at Friday’s finish.
Bank Muamalat Malaysia’s chief economist said investors are focused on next week’s scheduled meeting between Presidents Trump and Xi in South Korea. Trump indicated his administration wants fair terms with China, which boosted the dollar’s performance.
The ringgit gained ground against the British pound, euro, and Japanese yen. The currency showed mixed results against regional units, rising versus the Singapore dollar and Thai baht but declining against the Indonesian rupiah while holding steady against the Philippine peso.
