KUALA LUMPUR (Jan 14): AmBank Group Research said the ringgit (MYR) rose 0.33% to 4.063. The KLCI extended its lost by 0.42% to 1,585.

In a foreign exchange note today, AmBank group chief economist and head of research Dr Anthony Dass said bond buying were centered on the front end to the belly side, witnessing the 3-, 5-, and 7-year yields eased 0.5 basis points (bps) to 3.010%, 1.5bps to 3.160% and 0.5bps to 3.265%, respectively.

Dass, who is also adjunct professor in economics at University of New England, Sydney, Australia, said the 10-year Malaysian Government Securities stayed muted at 3.285%.

He said the IRS curve closed mixed: (1Y) -0.2ps to 3.265%, (3Y) unchanged at 3.260%, (5Y) -0.7bps to 3.272%, (7Y) unchanged at 3.330% and (10Y) +0.1bps to 3.395%.

He added that the 3-month KLIBOR stood at 3.33%.

Dass said against the major currencies, the MYR strengthened; 0.14% to 4.521 vs. the EUR, 0.89% to 5.283 versus the GBP and 0.78% to 3.695 vs. the JPY but weakened marginally by 0.04% to 1.697 vs. the CNY.

He said the ringgit traded higher against most of its Asean peers: (SGD) 0.15% to 3.017, (THB) 0.11% to 7.431, (PHP) 0.01% at 12.41 and (VND) 0.34% to 5,705.

However, he said the ringgit fell 0.43% at 3,364 against the IDR.