The Malaysian ringgit strengthened against the U.S. dollar in the Asian session on Friday, as oil prices surged after the Federal Reserve’s September meeting minutes indicated the U.S. central bank isn’t in a hurry to raise interest rates.
Against the greenback, the ringgit rose to nearly a 2-month high of 4.0735. At yesterday’s close, the ringgit was trading at 4.2330 against the greenback.
If the ringgit extends its uptrend, it is likely to find resistance around the 3.99 area.
The material has been provided by InstaForex Company – www.instaforex.com