KUALA LUMPUR: The ringgit turned lower after a six-day winning streak as profit-taking emerged and oil prices dipped.
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At 9.42 am, the local currency rose to 4.0420/0460 against the US dollar from yesterday’s close of 4.0280/0320.
At press time, the crude Brent down to US$62.87 and the West Texas Intermediate (WTI) dropped to US$59.66 per barrel.
The overnight Brent hit near its 13-month high on Tuesday, gaining 0.1 per cent to U$63.35 a barrel. It was reported that a deep freeze in the US South shut wells and oil refineries in Texas.
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The local currency was traded higher against other major currencies on Wednesday.
It increased against the Singapore dollar to 3.0403/0446 from Tuesday’s close of 3.0432/0467 and went up vis-a-vis the euro to 4.8840/8916 from 4.8948/9009.
The ringgit also appreciated against the yen to 3.8088/8139 from 3.8242/8283 and strengthened against the British pound to 5.6039/6124 from 5.6102/6166 previously. – BERNAMA