Ringgit climbs early as crude prices tumble on looming US‑Iran peace deal and Hormuz hopes (opens original article in a new tab)

The ringgit opened higher against the US dollar amid expectations of unchanged US interest rates and declining crude oil prices due to potential US-Iran peace talks. The currency also strengthened against other major and regional currencies.

• Ringgit opened higher against the US dollar due to expectations of US Fed keeping interest rates unchanged
• Crude oil prices declined as expectations grew for a US-Iran peace deal on June 19
• US Treasury yields dropped below 4.50 per cent, indicating easing inflation risk premiums
• Ringgit strengthened against multiple major and regional currencies