Qualampur: An analyst stated that the Ringit is strengthening against the US dollar on Friday, as the United States (US) indicates the economic data tariff and concerns over fiscal policies and to be weak.
At 8 am, the local note on Thursday improved 4.2245/2295 to 4.2140/2335 against Greenback.
Bank Malaysia Malaysia BHD Chief Economist Dr. Mohammad Afzanim Abdul Rashid said that the US Dollar Index (DXY) slipped from 0.05 percent to 98.741 points as US economic data showed further recession signs.
“The US early unemployed claims increased to 247,000 last week, in the second week of growth in the second consecutive week, while continuous unemployed claims grew by 1.904 million for the week ended on May 24, 2025.
He said, “Tonight’s focus will be on Nonform Panel (NFP), which is expected to reach 125,000 from last month’s 177,000 print in 125,000 (unanimous) in May,” he told Bernma.
Mohammad Afzanizam said that emerging market currencies, including the ringite, are appreciating against the US dollar due to a weak US economic approach and continue to worry about tariffs and fiscal policies.
He said, “The prevailing market situation rejected the criteria as the US dollar is considered a safe-heaven currency. Merchants and investors generally come to the US dollars to get protection against extreme instability,” he said.
Mohammad Afzanizam said the market would be careful with the recent decline between the US tariff policies and the government’s budgetary status and its impact on the global economy between US tariff policies and US President Donald Trump and Elon Musk, which can lead to further noise in market sentiments.
“At the end of the day, it is about implementing it immediately to determine a good policy and see the result,” he said.
Therefore, he said that the ringt can continue to climb to the light of the prevailing position, reaching RM4.20 in the near period.
In the opening, Ringit traded against the basket of most major currencies.
It appreciated against the Japanese yen against 2.9495/9531 to 2.9343/9481 against the British pound from 5.7226/7369 to 5.7226/7491 against the British pound, but slid the Euro vs. Euro from 4.8263/8292 to Euro vs.
The local currency also did more business against most of its ASEAN comrades.
It received the Singapore dollar from 3.2758/2915 to close to 3.2881/2922 on Thursday and was moderately higher than the Indonesian ropes at 259.3/259.8 to 258.7/260.1.
Ringit increased from 12.9157/9854 against Thai Baht to close to 12.9925/13.0138 and increased from 7.57/7.62 7.59/7.61 to 7.57/7.62 against Philippine Peso.
