Ringgit opens higher at 4.0705/0805 as weak US June payrolls temper Fed hike expectations
The Malaysian ringgit strengthened in early trade on Friday, rising to 4.0705/0805 against the US dollar from the previous close. The move followed a sharp downside surprise in US June nonfarm payrolls, which rose by 57,000 versus a 114,000 consensus, alongside downward revisions to April and May. The ringgit also gained against the British pound, Japanese yen, euro, Philippine peso, Indonesian rupiah, Thai baht and Singapore dollar.