RINGGIT EXTENDS UPTREND AGAINST US DOLLAR (SCREEN)

ROSEMARIE KHOO MOHD SANI

KUALA LUMPUR, Jan 2 -- The ringgit continued to appreciate against the US dollar on its first trading day this year, tracking the firmer Chinese yuan amidst signs of an impending US-China 'Phase One’ trade deal, said an analyst. 

AxiTrader chief Asia market strategist Stephen Innes said the People's Bank of China's (PBoC) additional liquidity measures to boost the country's economy had supported the ringgit, following Malaysia's close trade relationship with China. 

At 6 pm, the ringgit was quoted at 4.0880/0930 versus the US dollar compared with Tuesday's close of 4.0890/0920.

The market was closed on Wednesday for the New Year holiday.