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Ringgit opens higher on weak US manufacturing data

Ringgit opens higher on weak US manufacturing data

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KUALA LUMPUR: The ringgit opened slightly higher against the US dollar this morning after the greenback weakened due to the lower United States (US) ISM Manufacturing Purchasing Managers Index (PMI) data.

At 9.02 am, the local currency stood at 4.4520/4550 versus the greenback compared to Monday's close of 4.4529/4540.

ActivTrades trader Dyogenes Rodrigues Diniz said the ISM Manufacturing data for July 2022 eased to 52.8 from 53 in June.

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"However, the data came higher than expected compared to the forecast of 52,” he told Bernama.

Meanwhile, the ringgit was traded mostly lower against a basket of major currencies.

The local currency fell against the Japanese yen to 3.4024/4049 from Monday's close of 3.3735/3753, depreciated versus the British pound to 5.4613/4649 from 5.4524/4548 and eased against the euro to 4.5775/5806 from 4.5695/5716 previously.

However, the ringgit rose vis-a-vis the Singapore dollar to 3.2336/2362 from 3.2345/2364 on Monday. - Bernama


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