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THE ringgit opened Friday’s trading session on a firmer footing, strengthening against the US dollar and most major currencies as markets continued to reassess the trajectory of US monetary policy.
The local unit began the day at 4.1515/1645 versus the greenback, an improvement from Thursday’s close of 4.1565/1645.
The currency also posted gains against several key pairs, rising to 2.6377/6461 against the yen, appreciating to 4.7879/8029 against the euro and climbing to 5.4314/4484 against the British pound. It similarly advanced against regional currencies, including the Singapore dollar, Thai baht, Indonesian rupiah and Philippine peso.
Bank Muamalat Malaysia Bhd’s chief economist, Dr Mohd Afzanizam Abdul Rashid, said the latest US nonfarm payrolls data indicated continued economic resilience, with 119,000 jobs created in September — exceeding market expectations. He noted that an uptick in the labour participation rate reinforced this positive momentum.
He said the combination of stronger labour figures could prompt the US Federal Reserve to maintain interest rates at its December meeting.
“While the stronger labour reading should keep the US dollar supported in the near term, the ringgit’s early gains suggest markets are continuing to reassess the timing and scale of potential US rate cuts in 2026, especially with a new US Federal Reserve chair to be appointed in May,” he told Bernama.
“The case for rate cuts is not totally off the table. It is a question of timing and quantum. For now, however, the US dollar is expected to remain on a positive trajectory,” he added.
Dr Mohd Afzanizam observed that the ringgit had ended Thursday 0.24 per cent weaker against the US dollar but said it may find technical support in the near term.
He expects the currency to trade within the RM4.15–RM4.17 range as markets digest the latest economic indicators. - November 21, 2025