Expectation of a pause in US rate hike gives ringgit a lift FMTNews FMTBusiness
KUALA LUMPUR: Renewed hopes for a pause in US interest rate hike gave the ringgit a boost this morning.
The local note will likely trade within the RM4.54 and RM4.55 range today, Bank Muamalat Malaysia Bhd chief economist and social finance head Afzanizam Rashid told Bernama. His positive view stems from an expected drop in US non-farm payrolls . The data will be released tonight.Afzanizam explained that the US Federal Reserve’s decision is data-dependent and a weak NFP could lead to a pause in interest rate hike. “However, the timing of any potential changes in the Fed’s position is uncertain,” he said.
The ringgit rose to 4.5395/4.5485 to the US dollar just 10 minutes into the trading day. It had closed at 4.5535/4.5570 yesterday.It rose against the Japanese yen to 3.1809/3.1875 from 3.1849/3.1876 yesterday and strengthened versus the euro to 4.9730/4.9829 from 4.9774/4.9813 previously, but depreciated vis-a-vis the British pound to 5.7765/5.7880 from 5.7679/5.7724.The ringgit strengthened versus the Singapore dollar to 3.3869/3.3939 from 3.3923/3.
It was also higher against the Indonesian rupiah at 298.8/299.6 from 299.7/300.2 yesterday and appreciated against the Thai baht to 13.1290/13.1604 from 13.1403/13.1565 previously.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Local Makeup Brand BeauTyra Calls It Quits | TRPBeauTyra recently made a heartbreaking announcement of bidding farewell to its loyal supporters, marking the end of a five-year journey in business.
Read more »
From Ethnicities To Gender: Local Grab Driver Compares 6 Different Types Of Customers - Hype MYE-hailing drivers tend to come across many types of customers - from the ones with odd requests to the ones who would steal someone else’s ride. Recently, a
Read more »
(Video) Local Woman Claims That PJ Beauty Parlour Doesn’t Accept Non-Muslims - Hype MYNiresh Kaur shared through Twitter an image of a Hannan Medispa branch with the caption, “Apparently for Muslims only”. According to local reports, the
Read more »
Lumi News app connects readers with local politiciansLeading news aggregator app joins forces with 10 current and former Malaysian ministers for its exclusive state elections News Stacks.
Read more »
Sabah will get education, health autonomy under unity govt, says CMSabah will get education, health autonomy under unity govt, says CM FMTNews FMTEng
Read more »
EPMB shares rise 13.5% in morning trade following MoU with China’s BAICEPMB shares rise 13.5% in morning trade following MoU with China’s BAIC FMTNews FMTBusiness
Read more »