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Will the Ringgit return to glory soon?
Ringgit up for the 6th consecutive day, is a return to glory imminent?
Reporter: @Jungle lee
In April, inflation data in the USA slowed down, increasing the expectation of a rate cut by the Federal Reserve, driving $XAU/USD (XAUUSD.CFD)$The Ringgit has risen against the US Dollar for 6 consecutive days!
In fact, this is closely related to the policies introduced by the Malaysian government and Bank Negara Malaysia (BNM), coupled with the stronger economic performance, boosting market confidence.
During this period, BNM implemented 3 major measures to stabilize the Ringgit, and the bright economic strategy also began to take effect.
Furthermore, $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$The composite index has surged past the 1600 mark, coupled with foreign capital inflows into the Malaysian bond market, various signs indicate that the Ringgit is poised to return to glory, just around the corner!
Complete report:Ringgit steadily rising with a return to glory on the horizon?
Source of information: Nanyang Siang Pau
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