The Ringgit opened slightly stronger on Wednesday at 4.2255/2370 against the US dollar, up from Tuesday’s close of 4.2270/2350, ahead of key US labour market data.
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Ringgit Opens Higher Ahead of Key US Jobs Data
Bank Muamalat chief economist Dr Mohd Afzanizam Abdul Rashid said markets remain cautious, with mixed signals from US data and Federal Reserve officials, though odds of a 25-basis-point rate cut remain high.
He expects the USDMYR to hover between 4.23 and 4.25 today. The Ringgit also gained against the yen, pound, euro, Singapore dollar, rupiah, and peso, though it slipped against the Thai baht. The upcoming JOLTS report will be closely watched.
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