KUALA LUMPUR: The ringgit trimmed earlier good points to finish barely lower towards the US greenback in the present day despite the weaker-than-expected US Nonfarm Payroll (NFP) data launched final Friday, stated an economist.
Bank Muamalat Malaysia Bhd chief economist Afzanizam Abdul Rashid stated the US greenback/ringgit charge had began low at RM4.7330 within the early morning session however steadily depreciated in the direction of RM4.7413 later within the afternoon session.
“There was a slight uptick within the US Dollar Index (DXY) to 105.077 factors however solely marginally as a result of the greenback was weaker towards the euro and pound sterling.
“The DXY has six parts and amongst them are the euro and pound sterling,” he instructed eNM.
In a nutshell, he stated markets are nonetheless just about bullish on the US greenback despite the US jobs data final Friday.
At 6pm, the ringgit eased to 4.7380/4.7405 versus the buck from Friday’s shut of 4.7370/4.7400.
At the shut, the ringgit traded largely lower towards a basket of main currencies.
It rose versus the Japanese yen to three.0806/3.0825 from Friday’s shut of three.0947/3.0968 however went down vis-a-vis the British pound to five.9604/5.9635 from 5.9487/5.9525 earlier, and slipped towards the euro to five.1033/5.1060 from 5.0890/5.0922 beforehand.
The native be aware additionally traded lower towards Asean currencies.
Against the Thai baht, the ringgit fell to 12.8950/12.9070 from Friday’s 12.8723/12.8850, inched down versus the Singapore greenback to three.5086/3.5107 from 3.5027/3.5054, eased vis-a-vis the Indonesian rupiah to 295.6/295.9 from 294.4/294.8 and was lower towards the Philippine peso to eight.28/8.29 from 8.25/8.27 beforehand.
