Ringgit Edges Lower Against US Dollar Amid Stronger US Data
The Malaysian ringgit opened higher against major currencies but slightly lower against the US dollar on Thursday. The currency edged down to 4.0790/0860 against the greenback from Wednesday's close of 4.0785/0820.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid attributed this movement to stronger-than-expected US economic data that supported the dollar. He noted that US final gross domestic product growth for the second quarter of 2026 came in at 2.2 per cent, above the consensus estimate of 1.5 per cent.
The ADP employment change also rose to 90,000 in September, ahead of the market estimate of 73,000. As a result, the odds of a rate hike in October fell from more than 70 per cent to below 50 per cent currently, according to Dr Mohd Afzanizam.
The ringgit is expected to trade between RM4.08 and RM4.09 today, ahead of the release of US non-farm payrolls (NFP) data on Friday. Against major currencies, the ringgit rose against the euro to 4.6203/6282 from 4.6324/6363 at Wednesday's close.