At 9.03am, the ringgit was quoted at 4.3180/3270 against the US dollar compared with Thursday's close of 4.3320/3380.
The US has recorded 6.6 million unemployment claims, which he said, was an indication of the dire straits of the labour markets and economics dislocation following the spread of COVID-19. "This could give hope that the economy would rebound forcefully should COVID-19 spread can be contained,” he told Bernama.
"Although oil prices are lower today, I think the production cut will eventually prove to be bullish for oil especially in light of the definite COVID-19 curve flattening data, which suggests lockdowns will end quicker than expected.
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