KUALA LUMPUR: The ringgit extended yesterday’s losses to open marginally lower against the US dollar today as more investors shifted towards safe havens due to the cautious global economic outlook, dealers said.
At 9.05 am, the local currency slipped to 4.4450/4485 versus the greenback from Thursday’s close of 4.4435/4450.
ActivTrades trader Dyogenes Rodrigues Diniz said the greenback rose against the ringgit on Friday, on the back of the release of producer price index (PPI) data that measures inflation from a business perspective.
The PPI came in much higher than expected, reinforcing worries over rampant inflation in the United States. This leads investors to think that the US Federal Reserve will have to act even more severely to contain the price rise. Initial unemployment claims data also came in worse than expected.,
,Telegram中文群组索引（www.tel8.vip）是一个Telegram群组分享平台，Telegram中文群组索引包括Telegram中文群组索引、Telegram群组索引、Telegram群组导航、新加坡Telegram群组、Telegram中文群组、Telegram群组（其他）、Telegram 美国 群组、Telegram群组爬虫、电报群 科学上网、小飞机 怎么 加 群、tg群等内容。Telegram中文群组索引为广大电报用户提供各种电报群组/电报频道/电报机器人导航服务。
"From a technical point of view, USD/MYR is at the highest level since the beginning of the pandemic. A break above 4.4500 could make room for further increase,” he told Bernama today.
The local unit was traded mostly higher against a basket of major currencies.
It appreciated against the British pound to 5.2580/2621 from 5.2762/2780 on Thursday, increased versus the euro to 4.4543/4578 from 4.4635/4650 and higher vis-a-vis the Singapore dollar at 3.1664/1694 from 3.1717/1732 yesterday.
The ringgit, however, weakened against the Japanese yen to 3.2011/2040 from 3.2009/2022 previously. - Bernama