KUALA LUMPUR: The ringgit rebounded to open higher against the US dollar after some selling activities in the greenback, said an analyst.
Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the US dollar retreated given the weaker-than-expected US Institute for Supply Management purchasing managers’ index for the non-manufacturing sector, which came in at 51.4 points against consensus estimates of 52.8 points. "Nonetheless, the situation remains hazy whether such correction in the US dollar will be sustainable,” he told Bernama.
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