KUALA LUMPUR, Aug 4 —The ringgit closed stronger against the US dollar on Monday following a softer-than-expected United States (US) jobs report that significantly altered market expectations for the Federal Reserve (Fed) policy, said an analyst.
At 6pm, the local note rose to 4.2350/2385 versus the US dollar from Friday’s close of 4.2750/2815.
SPI Asset Management managing director Stephen Innes said that last Friday’s nonfarm payrolls data showed a marked slowdown in US job creation, prompting traders to sharply increase bets on monetary easing. — Bernama
