KUALA LUMPUR: The ringgit ended barely firmer against the US dollar right this moment on enhancing risk appetite, stated an analyst.
At 6pm, the ringgit edged as much as 4.7385/4.7410 versus the buck from Thursday’s shut of 4.7395/4.7425.
An analyst stated the autumn within the US Treasury yields supported the native forex right this moment.
“The 10-year US Treasury yield slid to 4.45% on May 9 from 4.48% on May 8, which influenced the motion of the buck,” he famous.
Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid stated US Treasury yields took a breather on Friday as merchants digested the spike in US preliminary jobless claims to 231,000 final week from 209,000 within the earlier week.
“This means that the labour market in softening, renewing hope for a US fee minimize to happen this yr. While dangerous belongings akin to equities did rally whereas the US Treasury yields fell, the US dollar was nonetheless very a lot effectively supported,” he added.
At the shut, the ringgit traded decrease against a basket of main currencies.
It depreciated versus the Japanese yen to three.0428/3.0446 from Thursday’s shut of three.0401/3.0422, fell vis-a-vis the British pound to five.9364/5.9395 from 5.9177/5.9215 and edged down against the euro to five.1072/5.1098 from 5.0855/5.0887.
The native forex traded combined against Asean currencies.
The ringgit fell against the Singapore dollar to three.5017/3.5038 from 3.4939/3.4964 at Thursday’s shut and slipped against the Thai baht to 12.9009/12.9137 from 12.8303/12.8436.
However, the native forex inched up vis-a-vis the Indonesian rupiah to 295.2/295.6 from 295.3/295.6 yesterday and was firmer against the Philippine peso at 8.25/8.26 in contrast with 8.26/8.27 beforehand.
