A Malaysia Ringgit note is seen in this illustration photo June 1, 2017. — Reuters pic
KUALA LUMPUR, July 5 — The ringgit retreated after two days of gains to end the week easier as investors remained cautious ahead of the US non-farm payrolls data due out later in the day, a dealer said.
At 6pm, the local currency stood at 4.1340/1370 versus the greenback compared with yesterday’s close of 4.1310/1350.
A dealer said the non-farm payrolls would provide a catalyst in the market whereby it could weigh on dollar sentiment, thus affecting other save-havens and emerging currencies, including the ringgit.
She said the market anticipated the non-farm payrolls to rise by 160,000 in June, against 75,000 a month earlier.
“A positive set of data would not be favourable to lift the US dollar because the market’s expectation of a cut in the rate is quite strong due to low inflation,” she told Bernama.
At the close, the ringgit traded mostly higher against a basket of major currencies.
It rose against the Japanese yen to 3.8267/8306 from 3.8328/8369 on Thursday, strengthened versus the pound to 5.1882/1932 from 5.1943/1002 and improved against the euro to 4.6557/6607 from 4.6614/6668 previously.
The local currency, however, depreciated against the Singapore dollar to 3.0460/0493 from 3.0458/0492. — Bernama