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Ringgit closes higher ahead of US tax cut vote

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by December 19, 2017 General

KUALA LUMPUR, Dec 19 — The ringgit closed slightly higher against the US dollar today in line with most emerging regional currencies ahead of a US Congressional vote on tax cuts, said a dealer.

At 6pm, the local unit was pegged at 4.0790/0830 against the greenback versus 4.0800/0830 on Monday.  

The dealer said the US dollar might find some support if the US Congress passed the vote as has been widely anticipated but the move could have already been factored into the markets.   

Meanwhile, the ringgit traded mostly lower against a basket of other currencies.

The local note eased against the Singapore dollar to 3.0282/0323 from Monday’s 3.0247/0280, and was almost flat against the yen at 3.6219/6258 from 3.6218/6255 yesterday.  

The ringgit depreciated against the euro to 4.8149/8212 from 4.8095/8147 and traded easier against the British pound at 5.4532/4602 from 5.4456/4512. — Bernama

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