The ringgit closed at a 13-year high of 2.99 against the USD today.
Looking for more appreciation as it seems that Bank Negara will probably hike rates sometime this year, and more USD weakness as America's Federal Reserve's QE2 programme is on its 2-month home stretch.
Impact for us?
Heck, it's a step forward in improving our purchasing power (about time too!) It sorta compensates for our rather inflexible labour markets here. BNM annual report seems to think that our local firms can handle this appreciation for now, so all good right now I guess.
Time to go shopping on Amazon
P/s: I actually meant to talk about this thing about global rare earths trade, but I think this is a lot easier to swallow for the start of the week.
