KUALA LUMPUR, Oct 11\u00a0(NNN-Bernama) —\u00a0 The Malaysian ringgit opened lower\u00a0against the US dollar this morning following the higher-than-expected non-farm payrolls (NFP) data for September, which further attests to\u00a0the scenario of a strong economic recovery in the United States (US), said a dealer.\u00a0<\/p>\n\n\n\n
At 9 am, the local currency dropped to 4.6660\/6680 against the greenback from Friday\u2019s close of 4.6480\/6520.<\/p>\n\n\n\n
According to the US Department of Labour, NFP rose by 263,000 in September.<\/p>\n\n\n\n
ActivTrades trader Dyogenes Rodrigues Diniz said the unemployment data was also 3.5 per cent stronger than the forecast of 3.7 per cent and was favourable to the greenback. <\/p>\n\n\n\n
\u201cThe 3.5 per cent reading is the lowest in the historical series and is another sign that the US job market is solid,\u201d he said in a note Tuesday. <\/p>\n\n\n\n
Therefore, he said, the Federal Reserve was likely to raise interest rates in the short and medium term to contain inflation as both sets of numbers were stronger than expected, making the US fixed income assets more appealing to investors.<\/p>\n\n\n\n
Meanwhile, the ringgit traded higher against a basket of major currencies.<\/p>\n\n\n\n
The local note gained against the British pound to 5.1727\/1749 from 5.2132\/2177 at Friday\u2019s close and increased against the Singapore dollar to 3.2489\/2505 from 3.2529\/2559.<\/p>\n\n\n\n
It also appreciated vis-a-vis the euro to 4.5349\/5368 from 4.5574\/5613 at the end of last week and rose versus the Japanese yen to 3.2025\/2043 from 3.2084\/2116 previously.<\/p>\n\n\n\n
The local market was closed on Monday in lieu of the Maulidur Rasul public holiday and recommenced today.<\/p>\n\n\n\n
— NNN-BERNAMA<\/p>\n","protected":false},"excerpt":{"rendered":"
KUALA LUMPUR, Oct 11\u00a0(NNN-Bernama) —\u00a0 The Malaysian ringgit opened lower\u00a0against the US dollar this morning following the higher-than-expected non-farm payrolls (NFP) data for September, which further attests to\u00a0the scenario of a strong economic recovery in the United States (US), said a dealer.\u00a0 At 9 am, the local currency dropped to 4.6660\/6680 against the greenback from Friday\u2019s close […]<\/p>\n","protected":false},"author":30,"featured_media":147241,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[215,288,300,318],"tags":[],"_links":{"self":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/194959"}],"collection":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/users\/30"}],"replies":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=194959"}],"version-history":[{"count":1,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/194959\/revisions"}],"predecessor-version":[{"id":194960,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/194959\/revisions\/194960"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/media\/147241"}],"wp:attachment":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=194959"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=194959"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=194959"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}