KUALA LUMPUR: The ringgit opened almost flat against the US dollar on Monday as traders reassessed the likelihood of a United States interest rate hike following a weaker-than-expected US nonfarm payrolls (NFP) data.
At 8am, the local note stood at 4.0695/4.0780 against the greenback compared to 4.0690/4.0735 at Friday’s close.
Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said the US Federal Reserve (Fed) chair’s reluctance to provide forward guidance on interest rates also supported sentiment towards the ringgit.
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