The ringgit ended the week higher against the US dollar today despite the greenback’s resiliency which stayed strong amid fading hopes of an early US rate cut and strong US economic data, dealers said.
The ringgit ended the week higher against the US dollar today despite the greenback’s resiliency which stayed strong amid fading hopes of an early US rate cut and strong US economic data , dealers said. Bank Muamalat Malaysia Bhd chief economist Afzanizam Abdul Rashid said the local currency was mostly higher against the US dollar by about 0.14% today, in tandem with the improvement in other regional currencies such as the Indonesian rupiah, Singapore dollar, and Philippine peso.
“However, issues surrounding the timing for a US rate cut and the anticipation of a forceful China economic stimulus continued to drive market sentiments,” he told Bernama. Meanwhile, SPI Asset Management managing director Stephen Innes said despite the continued resilience in US macroeconomic indicators, including a larger-than-expected drop in initial jobless claims and a rise in US 10-year yields to
Ringgit US Dollar Resiliency Rate Cut Economic Data
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