Ringgit Gains on Manufacturing Growth in US & China

The Malaysian ringgit gained today as yesterday’s data that showed an expansion of manufacturing in the United States and China increased attractiveness of higher yielding Asian currencies.
Yesterday’s gains of China’s & US PMI made sentiment of Forex traders more optimistic and the market retained that optimism today. The MSCI Asia-Pacific Index of shares advanced 0.5 percent. Europe still remains a negative factor for the currency markets, but for now investors prefer to pay attention to good stories from China and the USA.
USD/MYR fell from 3.0310 to 3.0300 as of 12:46 GMT today, while the daily low was 3.0210.

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