Ringgit opens firmer vs greenback as US labour demand declines

The 77-year-old revealed he was healing from the infection in one eye, but said his recovery would take 'some time'.

KUALA LUMPUR: The ringgit opened firmer against the greenback on Thursday as the latest US jobs data pointed to slowing labour demand, suggesting the American economy is cooling and further strengthening expectations for an interest rate cut, said an analyst.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said demand for the ringgit would remain guarded in the near term against such global economic uncertainty. "Hence, the US Federal Reserve is almost certain to deliver a rate cut when the Federal Open Market Committee members meet on Sept 17 and 18,” Afzanizam told Bernama.

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Ringgit Opening US Dollar Mohd Afzanizam Abdul Rashid BNM

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