The Malaysian ringgit advanced today, following other Asian currencies in gains, after a report showed that US factory orders rose more than expected in May, easing concerns that the global economy is slowing. The currency fell recently, erasing its gains.
Factory orders rose 0.7 percent in May, following two consecutive decreases. The average forecast was 0.1 percent. Ringgit was also supported by expectations of monetary easing from the European Central Bank on tomorrow’s meeting.
USD/MYR fell from 3.1544 to 3.1572 as of 16:00 GMT today, following the earlier drop to 3.1498.
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