KUALA LUMPUR: The ringgit closed lower compared to the greenback yesterday on a lack of catalysts for the local note ahead of the release of key US economic data.
At 6pm, the ringgit shed to 4.1980/2025 against the US dollar from last Friday’s close of 4.1860/1930.
It was reported that the greenback hovered near a three-month high yesterday as investors awaited a series of US economic data this week to assess the state of the US economy and see if it might prompt a shift in the Federal Reserve’s hawkish stance.
Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the US ISM Manufacturing Index is expected to come in at 49.4 points for October compared with 49.1 points in the previous month. — Bernama
