KUALA LUMPUR: The ringgit opened stronger against the US dollar on Monday as hopes for an upcoming United States (US) rate cut increased following the latest data that showed a weaker US labour market, an economist said.
At 8 am, the local note climbed to 4.2350/2550 against the greenback from Friday’s close of 4.2750/2815.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid told Bernama that the US Non-farm Payroll (NFP) data came in lower than expected and surprised the market.
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