KUALA LUMPUR, Aug 11 — The ringgit extended its losses against the US dollar to open lower today as the greenback strengthened on positive United States (US) economic data. At 9.03am, the local note stood lower at 4.2400/2430 versus the greenback compared with 4.2270/2300 at Monday’s...
KUALA LUMPUR, Aug 11 — The ringgit extended its losses against the US dollar to open lower today as the greenback strengthened on positive United States economic data.
Bank Islam Malaysia Bhd economist Adam Mohamed Rahim said the ringgit is expected to face some headwinds today amid a stronger US dollar due to the recent strong US jobs data. “Such upbeat jobs news is helping to support the view that the US Fed may act more quickly to tighten the US monetary policy,” he told Bernama.
ActivTrades trader Dyogenes Rodrigues Diniz said the market has remained uncertain in the recent days following the US Fed’s announcement that it may need to tighten its monetary policy starting from the next meeting.
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