dglobalnews.com Ringgit continues uptrend against USA dollar
Published: Wed, March 22, 2017
Markets | By Armando Jensen

Ringgit continues uptrend against USA dollar

Ringgit continues uptrend against USA dollar

The U.S. dollar is trading soft against most of its G10 counterparts today.

The US Dollar was broadly lower through the Asian session, with Mr. Evans' comments getting much of the blame.

Meanwhile, the U.S. prevailed at the latest meeting of Group of 20 finance chiefs in Germany over the weekend, in opening the door for the Trump administration to enact more protectionist trade policy as part of Trump's America First platform.

"As the world's number one economy is preparing to set significant barriers against the world, investors are increasingly anxious", she said.

Traders are waiting for the release of several economic reports.

The local currency's US5?? rise against the greenback this year comes against the background of a consolidation among traders who bid up the buck aggressively in the weeks following the USA election, amid talk of border taxes, immigration controls, and repatriation of the billions of dollars held by American companies offshore.

MSCI's all-country world equity index was up 0.25 points, or 0.06 per cent, at 451.51.

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On Friday, she participated in a meeting on vocational training with the president and German Chancellor Angela Merkel . The First Daughter was present in the Cabinet Room when he delivered a talk not long after arriving to Washington, D.C.

We've been discussing the prospect of higher rates of inflation in the United Kingdom for some time now; and slowly but surely that inflation reading has continued to increase. The minutes of the Reserve Bank of Australia's March policy meeting again highlighted risks from a frothy housing market.

Other Fed officials scheduled to speak this week include Charles Evans today, Esther George, Loretta Mester and Eric Rosengren on Tuesday, Neel Kashkari and Robert Kaplan on Thursday, as well as Evans, James Bullard, and John Williams on Friday.

"Sentiment towards the dollar has deteriorated significantly", Societe Generale FX analysts said in a note to clients on Monday.

The Canadian dollar settled at $1.3354 to the greenback, or 74.88 cents U.S., slightly weaker than Friday's close of $1.3337, or 74.98 cents US. A fourth straight lower close on Monday would mark its longest losing streak since November.

"There will be a lot of stop-loss selling if the dollar breaks under 112 yen", he added. This is a hearty improvement from January's read of 1.8%; and in response the British Pound has jumped-higher.

Although the Dutch election is over, there are still geopolitical risks in the European Union and the attention is now focused on the French presidential polls. Opinion polls show independent centrist Emmanuel Macron would lead far-right leader Marine Le Pen by a hair in first-round voting, before beating her handily in the run-off.

Prices were also underpinned by uncertainty over US President Donald Trump's foreign policies and concerns over the impact of populist parties on European elections this year.

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