Ringgit opens lower against major currencies, US dollar
The local currency edges down to 4.0795/4.0850 as weaker US consumer data weighs on sentiment and risk appetite.
KUALA LUMPUR: The Malaysian ringgit began the trading day on a weaker note against major currencies, including the US dollar, on Wednesday. Weaker US consumer data and a drop in investor sentiment contributed to the downward trend. The ringgit slipped to 4.0795/4.0850 against the US dollar, down from Tuesday’s close of 4.0790/4.0850.
Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid attributed the decline to the falling Conference Board’s Confidence Index and the lower Job Openings and Labour Turnover Survey in August. Despite the weaker ringgit, the US Dollar Index (DXY) managed to rise 0.17% to 101.372 points, as the Federal Reserve officials maintained a hawkish stance on monetary policy.
The ringgit also experienced losses against other major currencies, such as the euro, British pound, and Japanese yen, as well as several Asean currencies. However, it remained stable against the Indonesian rupiah and the Philippine peso.
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.
This story
This is one outlet's version. Read the fullest account.
- Ringgit opens lower against US dollar as weak consumer data weighs on sentiment malaymail.com
- Ringgit opens lower against major currencies, US dollar freemalaysiatoday.com
- Ringgit opens lower against major currencies, US dollar nst.com.my
