Ringgit easier against US dollar at opening

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KUALA LUMPUR: The ringgit retreated from yesterday’s gains and opened easier against the US dollar amid mixed reactions over US job data, influencing appetite for the dollar, said a dealer.

At 9 am, the local note fell to 4.2200/2230 against the greenback from 4.2150/2180 at Thursday’s close.

"The Initial Jobless Claims data brought the lowest reading since 1969, and this number, in line with the US Federal Reserves’ objective of achieving full employment, could end the tapering process sooner than expected and could also make the interest rate rise in 2022 to contain the advance of inflation in the US.

From a technical point of view, he said if the price manages to break the 4.2400-level, it could hit 4.2900.

 

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