Ringgit slips against greenback in early trade | The Malaysian Insight

Ringgit slips against greenback in early trade

The ringgit trades mostly lower against Asean currencies today. – The Malaysian Insight file pic, May 19, 2023.

At 9am, the local note declined to 4.5445/5480 versus the greenback from yesterday’s closing rate of 4.5365/5395. “Another macroeconomic indicator that supported the US dollar was the US Philadelphia Fed Manufacturing Index, where today’s reading came in less negative than expected at -10.4 versus the forecast of -19.8, which was also positive for the greenback,” he said.

“Despite the risk-on mode, the US Dollar Index gained 0.64% to 103.544 points as the Fed remained hawkish,” he told Bernama.

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