Ringgit ends higher ahead of US jobs data

Investors remained cautious ahead of the US non-farm payrolls report due tomorrow, says analyst.

KUALA LUMPUR: The Malaysian ringgit ended the trading day higher against the US dollar, despite still being restrained by a generally stronger greenback, said an analyst. This came as investors remained cautious ahead of the release of the US non-farm payrolls (NFP) report tomorrow. Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid noted that the local currency traded within a tight range of RM4.0872 to RM4.0933 throughout the day, indicating a cautious market sentiment.

The US dollar was supported, with the US Dollar Index (DXY) inching higher to 99.762 points. Investors are now anticipating the US July employment report, which could offer new insights into the Federal Reserve's monetary policy decision. At 6pm, the ringgit was trading at 4.0875/4.0920 against the greenback, up from yesterday's close of 4.0920/4.0960.

The currency also strengthened against the Japanese yen, euro, and British pound, while it was mostly higher against regional currencies like the Singapore dollar, Indonesian rupiah, and Philippine peso. However, it weakened against the Thai baht.

Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.