Ringgit Closes 0 31 Lower As Interest Rate Worries Prevail

KUALA LUMPUR: The ringgit slipped further against the US dollar as the greenback stayed firm on expectation of a higher-for-longer interest rate stance in the US.
Federal Reserve chair Jerome Powell’s comments on late Sunday reaffirmed the stance as US economic resilience provided more headroom to keep monetary policy restrictive, hence fading bets of rate cuts in March, dealers said.
SPI Asset Management managing partner Stephen Innes said any help the ringgit may have received from China’s effort to bolster its local markets was overshadowed by another surge in the US bond yields and a decline in expectations for US rate cuts.
“The market has now reduced Fed rate cut expectations from 150 basis points (bps) to only 115bps since the soaring US jobs report and improving US economic conditions.
“Unsurprisingly, the ringgit closed on another weaker note,” he told Bernama.
Meanwhile, Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said the ringgit traded mostly weaker against the US dollar today.
“The ringgit closed about 0.31% lower amid concerns over the potential delay in the US rate cuts along with anxiety on China’s economic prospect that had been the main driver for the weaker ringgit today,” he added.
At 6pm, the ringgit fell to 4.7655/4.7700 against the greenback from yesterday’s close of 4.7460/4.7520.
Meanwhile, the ringgit traded higher against a basket of major currencies.
It decreased vis-a-vis the Japanese yen to 3.2050/3.2082 from 3.1957/3.2000 at yesterday’s close, appreciated against the British pound to 5.9769/5.9825 from 5.9804/5.9880 previously, and slipped versus the euro to 5.1124/5.1173 from 5.1038/5.1103.
The local currency traded mixed versus Asean currencies.
The ringgit declined against the Singapore dollar to 3.5397/3.5433 versus 3.5260/3.5307 yesterday and slipped versus the Thai baht to 13.3544/13.3726 from 13.2559/13.2782.
It was lower against the Indonesian rupiah at 302.9/303.3 compared to 302.1/302.6 yesterday and slid versus the Philippine peso at 8.48/8.49 from 8.43/8.45 at yesterday’s close. - FMT

Artikel ini hanyalah simpanan cache dari url asal penulis yang berkebarangkalian sudah terlalu lama atau sudah dibuang :

http://malaysiansmustknowthetruth.blogspot.com/2024/02/ringgit-closes-031-lower-as-interest.html

Kempen Promosi dan Iklan
Kami memerlukan jasa baik anda untuk menyokong kempen pengiklanan dalam website kami. Serba sedikit anda telah membantu kami untuk mengekalkan servis percuma aggregating ini kepada semua.

Anda juga boleh memberikan sumbangan anda kepada kami dengan menghubungi kami di sini

Ringgit Closes Lower Against Us Dollar

papar berkaitan - pada 9/2/2024 - jumlah : 302 hits
The ringgit closed lower against the US dollar today as the greenback stayed firm amid fading hopes of an early US rate cut as well as China s disappointing economic data Picture by Miera ZulyanaKUALA LUMPUR Feb 8 The ringgit closed lower a...

Ringgit Set To Gain On Expected Fed Interest Rate Hold

papar berkaitan - pada 31/1/2024 - jumlah : 357 hits
KUALA LUMPUR The ringgit opened marginally higher against the US dollar today as the market remains tentative in anticipation of the interest rate decision on the greenback The United States Federal Reserve is expected to deliberate on its ...

Ringgit Closes Weaker As The Greenback Stayed Resilient

papar berkaitan - pada 5/2/2024 - jumlah : 266 hits
KUALA LUMPUR The ringgit closed weaker against the US dollar as the greenback stayed resilient increasing its appeal as a safe haven currency on escalating geopolitical tensions the Federal Reserve s hawkish remark as well as positive US ec...

Loke Urges For Cool Heads To Prevail Over Najib Sentence Reduction

papar berkaitan - pada 3/2/2024 - jumlah : 373 hits
DAP has called for cool heads to prevail over the sentence reduction for former prime minister Najib Abdul Razak Its secretary general Anthony Loke pointed out that the Pardons Board s decision on the matter is final and cannot be challenge...

Ringgit Strengthens As Markets Brace For Fomc Meeting

papar berkaitan - pada 30/1/2024 - jumlah : 245 hits
KUALA LUMPUR The ringgit opened higher on Tuesday as market participants focused on the two day US Federal Open Market Committee meeting which starts today SPI Asset Management managing director Stephen Innes said this week s FOMC meeting i...

Traders Lament Dip In Mandarin Orange Sales Despite Lower Prices Ahead Of Cny

papar berkaitan - pada 8/2/2024 - jumlah : 222 hits
Trader Lau Ming Hui says his sales have dropped by nearly 40 despite cheaper prices of mandarin oranges this year PETALING JAYA With just two days left until the start of the Chinese New Year celebration traders say that mandarin orange sal...

Sprm Beku Akaun Bank Milik Tan Sri Bernilai Puluhan Juta Ringgit

papar berkaitan - pada 1/2/2024 - jumlah : 221 hits
SITI NUR ZAWANIAkaun bank persendirian milik seorang ahli perniagaan bergelar Tan Sri yang bernilai puluhan juta ringgit telah dibeku oleh Suruhanjaya Pencegahan Rasuah Malaysia Menurut laporan pembekuan itu dibuat berikutan siasatan yang d...

Ringgit Ends The Week Firmer Amid Risk On Sentiment

papar berkaitan - pada 2/2/2024 - jumlah : 199 hits
KUALA LUMPUR The ringgit ended the week firmer against the US dollar closing higher on Friday as the greenback retreated amid risk on sentiment ahead of the US nonfarm payrolls data due later today an economist said Bank Muamalat Malaysia B...