KUALA LUMPUR: The ringgit rebounded from 4 straight days of losses to finish marginally higher against the US dollar on Friday on renewed shopping for curiosity.
At 6 pm, the native foreign money elevated versus the dollar to 4.4250/4270 from Thursday’s shut of 4.4270/4285.
Bank Islam Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid stated, nonetheless, the dollar stays secure because the US Dollar Index (DXY) continues to hover above 107 factors.
“Later tonight, the Non-farm Payroll (NFP) might be revealed with consensus estimates anticipating it to be barely decrease for June — declining to 268,000 in June from 390,000 in May — ensuing within the dollar’s gentle retreat.
“However, the US dollar must be effectively supported forward of the US Federal Open Market Committee assembly between July 26 and 27 with an extra 75 foundation level hike seen to be the most definitely consequence,” he informed Bernama.
Meanwhile, the ringgit was traded largely firmer against a basket of main currencies.
The native foreign money rose against the British pound to five.2888/2912 from 5.3115/3133 on Thursday, was higher vis-a-vis the Singapore dollar at 3.1528/1547 from 3.1601/1616 beforehand, and it had elevated versus the euro to 4.4777/4797 from 4.5186/5197.
However, the ringgit fell against the Japanese yen to three.2577/2595 from 3.2537/2551 yesterday. – Bernama
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