Ringgit Strengthens Amid Oil Price Drop, Geopolitical Developments
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The Malaysian ringgit has been fluctuating against the US dollar and other major currencies over the past few days. On Monday, it opened lower against the USD due to the Bank of Japan's interest rate hike, but later strengthened as oil prices dropped and market sentiment improved. This trend continued on Tuesday, with the ringgit trading within a narrow range amid cautious investor behavior ahead of significant geopolitical events such as the UN General Assembly and the meeting between US and Chinese presidents. Brent crude oil prices remained above $100 per barrel, reflecting ongoing geopolitical tensions.
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