US Dollar Index down by 0.14% to 103.419 points as major currencies strengthen against greenback.
KUALA LUMPUR: The ringgit opened higher against the US dollar this morning on weaker manufacturing purchasing managers’ index flash estimates for advanced economies, said an analyst.
Bank Muamalat Malaysia Bhd chief economist Afzanizam Abdul Rashid said businesses need to contend with the rising cost of borrowing and wage pressures, particularly those in advanced economies. “Having said that, we expect USD/MYR to move in a tight range of between RM4.65 and RM4.66 today as market participants are wary about the US rate outlook ahead of the Jackson Hole Symposium this week,” he told Bernama.
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