KUALA LUMPUR, Oct 7 — The ringgit continued its uptrend to end higher against the greenback today as US bond yields stabilised, dealers said.
At 6pm, the local note rose to 4.7115/7155 against the greenback from yesterday’s close of 4.7255/7300.
A dealer said the US trade deficit contracted by 9.9 per cent to US$53.8 billion (RM253 billion), the lowest since September 2020, according to the Commerce Department yesterday. Data for July was revised to show the trade gap rising to US$64.7 billion instead of US$65 billion as previously reported.
He said US job growth likely slowed moderately in September while the employment rate probably eased from a 0.5-1.0 month high, underscoring the economy’s underlying strength amid rising headwinds as the year winds down.
The ringgit was traded mostly lower versus a basket of major currencies.
It went up against the yen to 3.1612/1641 from 3.1719/1751 at yesterday’s close, declined against the euro to 4.9720/9763 from 4.9651/9698 and depreciated vis-a-vis the British pound to 5.7494/7543 from 5.7283/7337.
The local note was traded mostly higher against other Asean currencies.
It increased versus the Thai baht to 12.7200/7367 from 12.7927/8115 yesterday and rose against the Indonesian rupiah at 301.7/302.1 from 302.4/303.0 previously.
It was higher against the Philippine peso at 8.32/8.33 compared with yesterday’s close of 8.33/8.35 and weakened against the Singapore dollar to 3.4458/4493 from 3.4442/4478 previously. — Bernama