KUALA LUMPUR: The ringgit prolonged yesterday’s loss to commerce simpler towards the US dollar as we speak, as sturdy sentiments in the direction of the buck proceed to dominate the foreign money market, an economist stated.
At 9.12am, the ringgit traded at 4.7195/4.7230 towards the buck from Wednesday’s shut of 4.7140/4.7185.
Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid stated the Japanese yen appears to be grabbing the information headlines because the dollar-yen surpassed the 160 yen mark even earlier than the discharge of the US private consumption expenditures value index report on Friday.
“Other main currencies such because the euro, British pound, and Canadian dollar had been additionally lower towards the buck, resulting in the next US Dollar Index (DXY) to 106.052 factors.
“The 10-year US Treasury be aware additionally reversed its course with yields went up 8.0 foundation factors to 4.33%. Spot gold costs fell under the US$2,300 per ounce in mild of the upper US Treasury yields,” he advised eNM as we speak.
Meanwhile, the ringgit was principally lower towards a basket of main currencies.
The ringgit appreciated towards the Japanese yen to 2.9379/2.9403 from 2.9459/2.9489, improved towards the British pound to five.9555/5.9600 from 5.9722/5.9779, however declined towards the euro to five.0409/5.0446 from 5.0383/5.0431 at yesterday’s shut.
The ringgit was combined towards its Asean friends.
The ringgit rose vis-s-vis towards the Thai baht to 12.7623/12.7766 from 12.8007/12.8185 and inched up towards the Singapore dollar to three.4735/3.4764 from 3.4746/3.4782 yesterday.
The ringgit was weaker towards the Indonesian rupiah at 287.4/287.9 from 287.1/287.6 and flat towards the Philippine peso to eight.01/8.02 from 8.01/8.02 beforehand.
