KUALA LUMPUR, Nov 2 — The ringgit ended lower against the US dollar on Monday with positive United States economic data outlook lending support to the greenback.
At 6pm, the local note eased to 4.0695/0735 against the greenback from last Friday’s close of 4.0555/0600.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the October US Nonfarm Payrolls (NFP), scheduled to be released on Nov 6, is expected to reach 65,000 against 29,000 in the preceding month while the unemployment rate is expected to be sustained at 4.2 per cent.
“Positive (economic) data point could mean the Fed could resume its rate tightening cycle in December meeting with odds for the Fed Fund Rate hike at 71.1 per cent compared to 78.9 per cent a month ago.
