KUALA LUMPUR: The ringgit slipped further to end marginally lower against the US dollar today on the lack of catalysts amid a slightly firmer greenback, said an analyst.
At 6pm, the local currency stood at 4.6110/4.6165 against the US dollar compared to yesterday’s close of 4.6105/4.6155.
Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said the US debt ceiling bill continued to take centre stage as it will now go to the Senate for final voting before US president Joe Biden can sign the bill.
He noted investors now also have mixed feelings about the potential interest rate hike of 25 basis points in June as the US non-farm payroll, which is expected to come in at 195,000 persons, might exceed the forecast.
“It’s quite a mixed feeling, and the economic uncertainties would likely result in market participants being defensive. On that note, the US dollar against the ringgit continues to weaken at around RM4.6178,” he told Bernama.
At today’s close, the ringgit was also lower against a basket of major currencies.
It fell vis-a-vis the British pound to 5.7407/5.7475 from yesterday’s close of 5.6986/5.7048, decreased against the euro at 4.9356/4.9415 from 4.9208/4.9261 and slightly lower against the Japanese yen to 3.2995/3.3036 from 3.2951/3.2989 yesterday.
At the same time, the local currency traded mixed against other Asean currencies.
The ringgit was flat versus the Indonesian rupiah at 307.4/308.0 from 307.4/307.9 at Wednesday’s close and almost flat at 3.4095/3.4138 against the Singapore dollar from 3.4036/3.4075 yesterday.
The local currency slipped vis-a-vis the Thai baht to 13.2569/13.2792 from 13.2440/13.2641 but rose against the Philippine peso to 8.19/8.21 from 8.20/8.22 previously. - FMT
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