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Sundaily (Asia) 02/17/2020 05:41
KUALA LUMPUR : The ringgit extended its downtrend against the US dollar from last week to close easier for the fourth consecutive trading day on lack of demand. At 6pm, the ringgit was traded at 4.1400/1450 against the US dollar from last Friday’s closing of 4.1360/1400. AxiCorp’s chief market strategist Stephen Innes said investors remained on the sidelines as they needed to get a better analysis of the regional economic data due to the Covid-19 outbreak before making their next move. “On a positive note, the region’s central banks, including Bank Negara Malaysia (BNM), are looking to offset some of the damage by easing the policies. “This is a good thing for the ringgit as it will speed up the manufacturing rebound trade,“ he told Bernama.

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