The ringgit continued its decline against the strong dollar, awaiting US Q1 GDP and March PCE data. By 9am, it weakened to 4.7825/4.7870 from Wednesday’s 4.7765/4.7780 close. Bank Muamalat Malaysia Bhd’s Afzanizam Rashid noted an expected Q1 US GDP growth of 2.4%, despite a dip in April’s US PMI index.
Ringgit continues to decline
The USD appreciated across currencies, with potential yen intervention. Our currency traded lower against majors, rising to 3.0779/3.0810 versus the yen but falling to 5.9600/5.9656 against the pound and 5.1187/5.1235 against the euro. It mixed against ASEAN currencies, gaining on the baht and peso but sliding versus the SGD and IDR.
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