KUALA LUMPUR, Jan 6 — The ringgit ended higher against the US dollar on Tuesday as initial safe-haven bids for the dollar faded, according to an analyst.
He said this led the greenback to lose its defensive premium, allowing high-carry and high-beta currencies such as the ringgit to rebound.
At 6 pm, the local currency climbed to 4.0445/0495 versus the greenback from Monday’s close of 4.0695/0745.
IPPFA Sdn Bhd’s director of investment strategy and country economist, Mohd Sedek Jantan, said markets reassessed the US-Venezuela episode as politically disruptive but economically contained, with no meaningful spillover into global growth, energy supply or financial conditions. — Bernama