Malaysia: Ringgit slips as strong jobs data boosts US dollar

• Aug 09, 2016

Malaysia: Ringgit slips as strong jobs data boosts US dollar

Monday, 8 August 2016 – The ringgit opened weaker against a rejuvenated US dollar on Monday following the strong jobs data released on last Friday night.

At 9.07 am, the ringgit was quoted at 4.0450/0500 vis-a-vis the greenback against Friday’s close of 4.0200/0250.

A dealer said the strong US jobs data bolstered expectations of a growing economy,thus, raising the probability of a Federal Reserve interest rate hike within this year.

“July data for the US non-farm payrolls rose by 255,000 jobs, far above the economists’ forecast of 180,000,” he said.

Meanwhile, the local unit traded mixed against other major currencies. Read More?