This photo illustration shows Malaysian ringgit banknotes in Kuala Lumpur on June 29, 2015. — AFP picKUALA LUMPUR, May 6 — The ringgit retreated from yesterday’s gains to end lower against the greenback today, as traders turned risk-averse following the enforcement of the movement control order 3.0, a dealer said.
Bank Islam chief economist Dr Mohd Afzanizam Abdul Rashid said the ringgit lingered in a tight range against the greenback today despite the US Dollar Index seeing a decline during the day. “Given the MCO imposition in several key districts and in Kuala Lumpur, the risk of a slower recovery is quite imminent and may not be totally ruled out. This has led to the timid ringgit performance today,” he told Bernama.
According to him, the ADP employment survey suggests that the US labour market in the private sector has been commendable, rising by 742,000 jobs in April from an increase of 565,000 in March, but the figure came in below the economists forecast of 800,000.
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