The Malaysian ringgit strengthened against the U.S. dollar in the Asian session on Tuesday.
In other economic news, data from the Department of Statistics showed that the leading index for Malaysia fell by 0.3 percent month-over-month to 119.6 in January from 119.9 in December. In November, the reading was 119.3. On an annual basis, leading index increased at a slower pace of 2.3 percent in January, following a 3.3 percent rise in the prior month.
The coincident index that indicates the current economic activity rose slightly to 122.3 in January from 122.1 in December. Yearly, the index climbed 2.2 percent in January, faster than previous month’s 1.9 percent climb.
Against the greenback, the ringgit rose to a 5-day high of 3.6606 from yesterday’s closing value of 3.6815.
If the ringgit extends its uptrend, it is likely to find resistance around the 3.55 region.
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