The Malaysian ringgit strengthened against the US dollar at today's opening due to a further decline in the US Dollar Index (DXY) following weaker-than-expected US labour market data. Analysts anticipate the ringgit to continue performing favourably within a specific range.
The ringgit opened higher against the US dollar at today’s opening as the US Dollar Index fell further with the US labour market indicating a weaker outlook, an analyst said.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the DXY fell further to 107.993 points. “It was the first decline after reporting two consecutive months of increases with the ratio of total jobs available for every one unemployed individual dropping to 1.11 from 1.15 previously,” he told Bernama, today.
RINGGIT US DOLLAR DXY US LABOR MARKET FED FUND RATE
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