Ringgit opens firmer v dollar
The ringgit climbs to 4.6555/6600 versus the US dollar. – The Malaysian Insight file pic, July 10, 2023.
At 9am, the local unit climbed to 4.6555/6600 versus the greenback compared with 4.6655/6675 at Friday’s close. Furthermore, SPI Asset Management managing director Stephen Innes said US Treasury Secretary Janet Yellen’s two-day meeting with top officials in Beijing, China had also helped to lift traders’ sentiment as the US-China tensions are expected to ease.
Bank Muamalat Malaysia Bhd chief economist and social finance head Dr Mohd Afzanizam Abdul Rashid said the US NFP data gave a mixed signal on Federal Reserve’s monetary policy decision in the Federal Open Market Committee meeting on July 25.
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