Ringgit On Non-stop Rally For 11 Straight Days Vs US Dollar
KUALA LUMPUR, The ringgit continued to be well supported and sustained its upward momentum for 11 straight days against the US dollar as investors redirect their investments towards the Asia-Pacific region following weaker US jobs data last Friday, said an analyst. At 8 am today, the ringgit appreciated to 4.4930/5010 versus the US dollar from last Friday’s close of 4.4945/4995. It was reported that the US unemployment rate jumped to a near three-year high of 4.3 per cent in July compared to 4.1 per cent in June. UOB Kay Hian Wealth Advisors head of investment research Mohd Sedek Jantan said