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Ringgit higher in early session

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by December 28, 2017 General

A Malaysia Ringgit note is seen in this illustration photo. — Reuters pic A Malaysia Ringgit note is seen in this illustration photo. — Reuters pic KUALA LUMPUR, Dec 28 — The ringgit was higher against the US dollar this morning as investors’ interest shifted towards the local note.

At 9.10am, the local unit stood at 4.0740/0780 against the greenback from 4.0840/0890 at the close yesterday.

A dealer said traders were cautious on the greenback after US Treasury yields came off recent highs.

“Furthermore, the market is expecting more major central banks to begin reducing monetary stimulus next year due to faster global economic growth,” he added.

Meanwhile, the ringgit was traded mixed against a basket of major currencies.

It appreciated against the Singapore dollar to 3.0389/0428 from 3.0412/0456 yesterday and rose against the yen to 3.5980/6025 from 3.6046/6100.

The ringgit declined against the euro to 4.8489/8549 from 4.8440/8512 and was lower against the British pound at 5.4612/4674 from 5.4611/4690. — Bernama

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