KUALA LUMPUR, Jul 8 – The ringgit ended flat against the US dollar today amid mixed sentiment in the market, a dealer said. At 6pm, the local note remained unchanged at Thursday’s close of 4.2970/3000 against the greenback. The dealer said the escalating conflict between the US and North Korea, issues surrounding US monetary policy, as well as US employment data scheduled for release later today, prompted market participants to stayed on the sidelines.
He also said falling crude oil prices – the global benchmark Brent crude oil futures lost 2.2 per cent to US$47.04 a barrel today – also affected the ringgit’s performance. “The fall was capped by today’s strong trade data which showed Malaysia’s trade grew by 31.5 per cent to RM153.3 billion in May 2017, up from the RM116.6 billion recorded in the same month of last year. The improved data boosted investor confidence in Malaysia’s economic landscape,” he added.
At close, the ringgit traded mixed against other major currencies. It depreciated against the Singapore dollar to 3.1088/1123 from 3.1048/1081 on Thursday and slid against the euro to 4.9046/9085 from 4.8827/8870. However, the ringgit appreciated against the yen to 3.7799/7829 from 3.7879/7912 and was firmer versus the pound at 5.5466/5522 from 5.5702/5762. — Bernama
