Ringgit Ends Marginally Higher Against US Dollar

KUALA LUMPUR, July 10 (Bernama) -- The ringgit ended marginally higher against the US dollar Monday, supported by the positive trade data released last Friday, dealers said. At 6 pm, the local note stood at 4.2950/2980 against the greenback compared with Friday's close of 4.2970/3000. However, a dealer said gains were capped by the US job data, which surged more-than-expected in June, signalling a recovery in the labour market that could keep the US Federal Reserve on course for a third interest rate hike this year. "Malaysia’s trade grew 31.5 per cent to RM153.3 billion in May 2017, up from the RM116.6 billion, recorded in the same month last year. The improved data boosted investor confidence in Malaysia's economic landscape," he said. At close, the ringgit traded higher against other major currencies. It appreciated against the Singapore dollar to 3.0982/1026 from 3.1088/1123 on Friday and slid against the euro to 4.8899/8937 from 4.9046/9085. However, the ringgit appreciated against the yen to 3.7600/7629 from 3.7799/7829 and was firmer versus the pound at 5.5247/5298 from 5.5466/5522 on Friday. -- BERNAMA