Ringgit climbs to the highest in 11 weeks as U.S. House launches budget bill

Source: Bloomberg
© Scanpix/Reuters
Malaysia's Ringgit gained the strongest point in 11 weeks as the U.S. House introduced a bill averting income-tax rise for at least 99% of U.S. households, increasing demand for riskier assets. The Ringgit rose 0.6% to 3.0372 per greenback in Kuala Lumpur, the highest since October. It is believed that the currency's strength was driven by buying of government bonds at the beginning of the new year.

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Wed, 02 Jan 2013 12:51:50 GMT

Taiwan Dollar advances to the most in seven weeks amid U.S. budget optimism

Taiwan's Dollar soared to the highest in seven weeks as the U.S. Congress launched a budget bill which may prevent $600 billion in tax increases and spending cuts. The currency climbed 0.4% to NT$29.014 versus the greenback, after touching NT$29.005, the highest point since November. The Taiwan Dollar strengthened 4% in previous year as overseas investors increased their holdings of

Wed, 02 Jan 2013 13:46:52 GMT

Yen and Dollar drop as U.S. House launches bill to prevent fiscal cliff

The Yen and greenback debased versus most peers after U.S. policymakers introduced legislation to prevent "fiscal cliff" of tax increases and automatic spending cuts, decreasing demand for refuge assets. The Yen fell to 87.27 per greenback, the weakest since July 2010, and it dropped to 115.82 per Euro, the lowest since July 2011, while the greenback stood at $1.3272 versus

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