The Malaysian ringgit strengthened against the U.S. dollar in the Asian session on Friday amid rising risk appetite, as the rebound in crude oil prices and expectations of more stimulus from the European Central Bank boosted investor sentiment.
Against the greenback, the ringgit rose to nearly a 3-week high of 4.3198 from an early low of 4.3623. At yesterday’s close, the ringgit was trading at 4.3400 against the greenback.
If the ringgit extends its uptrend, it is likely to find resistance around the 4.28 area.
The material has been provided by InstaForex Company – www.instaforex.com