Malaysian ringgit reaches monthly high

03-30-2009 15:12

Friday traders speculated that the assets of emerging markets will become more popular, as the recession weakens and as a result of these speculations the Malaysian ringgit reached a monthly record high. Currencies such as the Korea’s won and the Malaysia’s ringgit are setting one of the longest periods of gaining in their present history, as emerging equity markets maintain their growth. The demand for export and more risky assets is increasing due to the stimulus measures for and from the major world economies; China, the US and Europe.

G20 meeting affects expectations

The positive prospects are also caused by the G20 meeting, which will take place April 2nd in London. Analysts believe that the Asian currencies will keep on rising during the next week. The G20 meeting will be important because before announcing the outcomes, traders’ trend will remain bullish in relation to the oversold currencies.