Ringgit falls against US dollar ahead of us manufacturing data release

KUALA LUMPUR: The ringgit was lower against the US dollar this morning on weaker demand for the local note, ahead of the release of US manufacturing sector data.

At 9.02am, the local note was at 4.1860/1900 against the greenback compared to 4.1850/1890 at the close yesterday.

A dealer said market players are expecting the US manufacturing data making a return to growth in September after experiencing contraction for the first time in three years in August.

“August US manufacturing activity contracted due to the US-China trade war. For September, market players are expecting positive development, and this will likely ease concern on the impact of the trade war,” he added.

Meanwhile, the ringgit traded mostly higher against other major currencies.

It fell against the Singapore dollar to 3.0272/0310 from 3.0256/0296 yesterday but increased against the yen to 3.8698/8746 from 3.8757/8801.

The local note strengthened versus the British pound to 5.1404/1457 from 5.1496/1562 and rose against the euro to 4.5598/5658 from 4.5704/5752 previously. — Bernama

Source: TheSunDaily