U.S. Dollar's Malaysian Ringgit counterpart concludes upwards prior to the release of American employment figures
Headline: Malaysian Ringgit Shows Mixed Performance Against Major Currencies
The Malaysian ringgit (MYR) showed a mixed performance against several major currencies in the recent trading session, with no significant changes observed against the US dollar, Thai baht, Philippine peso, or Singapore dollar compared to the previous day's close.
At 6pm, the local currency advanced against the US dollar, rising to 4.2230/4.2285 from yesterday's close of 4.2270/4.2350. However, it slipped against the Philippine peso, trading at 7.37/7.38, and fell versus the Thai baht to 13.0529/13.0759.
The ringgit performed better against the Indonesian rupiah, edging up to 257.2/257.7, and strengthened versus the Japanese yen to 2.8430/2.8469. The currency also gained vis-a-vis the British pound, trading at 5.6614/5.6687.
Regional currencies, including the Thai baht, were weaker against the US dollar due to domestic politics and policies dominating market sentiments. The US Dollar Index (DXY) was slightly higher at 98.444 points.
The federal open market committee (FOMC) meeting is scheduled for Sept 16 and 17, which is expected to provide important inputs for traders and investors. Geopolitical events like China's military parade are also expected to impact currency markets.
It is worth noting that on September 16, 2021, the exchange rate of the Malaysian ringgit against the Thai baht is not explicitly provided in the available sources; therefore, the exact rate for that date cannot be determined from the given data.
Overall, the ringgit traded mostly higher against a basket of major currencies, suggesting a positive sentiment towards the Malaysian economy. Traders and investors will closely monitor upcoming economic indicators and geopolitical events to gauge the direction of the ringgit in the coming days.
