Ringgit opens lower against US dollar, ends 2-day winning streak FMTNews FMTBusiness
KUALA LUMPUR: The ringgit retreated from two consecutive days of gains to open lower against the US dollar this morning, amid softening data points, said an economist.
Bank Muamalat Malaysia Bhd chief economist Afzanizam Abdul Rashid said the US Dollar Index rebounded by 0.32% to 101.91 points. “Similarly, the ADP employment change which gauges job creation in the private sector fell to 145,000 in March against the market’s expectation of 200,000,” he said. “Against such a backdrop, the dollar-ringgit could linger around RM4.40 during the day as market participants may have become wary about the strength of the global economy.
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