KUALA LUMPUR: The ringgit ended lower against the US dollar today as the United States (US) non-farm payrolls data rattled the Asian foreign exchange, an analyst said.
SPI Asset Management managing director Stephen Innes said US Treasury yields surged higher while global equities dropped after the US non-farm payroll data released last Friday -- a double whammy for the ringgit.
At 6 pm, the ringgit ended the day at 4.2995/3055 against the greenback from Friday’s close of 4.2565/2610.
"Now the lack of carry, meaning higher US Treasury yields relative to Malaysian Government Securities (MGS) are dissuading investors to get back into the ringgit trade, despite the strong China reopening impulse.
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