Ringgit slips further against dollar
The ringgit drops to 4.4070/4120 versus the greenback today from Friday’s closing of 4.3995/4035. – The Malaysian Insight file pic, April 10, 2023.
At 6pm, the local note dropped to 4.4070/4120 versus the greenback from Friday’s closing of 4.3995/4035. It was reported on Friday that NFP increased by 236,000 jobs in March, just slightly below the market estimate of 240,000.“This week, the consumer price index in the United States could influence the US Federal Reserve’s decision to hike at the May 3 meeting, so I think traders are a bit defensive ahead of that important inflation print.”
He also said the Singapore dollar appeared to be appreciating against the US dollar as the Monetary Authority of Singapore is likely to tighten its grip on monetary policy by allowing further appreciation of the Singapore dollar nominal effective exchange rate on April 14.
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