LATEST NEWS   PM Anwar, Turkmenistan President Serdar Berdimuhamedov witnessed the signing of a strategic cooperation agreement between Petronas and Turkmenistan authorities-- PMO | At 6 pm, the ringgit eased to 4.1340/1395 versus the US dollar from Thursday's close of 4.1145/1195 | The collaboration opens up space for more strategic engagements in future, including exploring the great potential of Turkmenistan's natural gas sector, which has among the world's largest gas reserves - PMO | Gabungan Kelab Media Malaysia (GKMM) state affiliates receive RM10,000, GKMM receive RM30,000 from Communications Ministry - Fahmi | The achievement comes as Malaysia and Turkmenistan mark 30 years of cooperation in the energy sector, which has been a key pillar of bilateral relations between the two countries -- PMO | 
MARKET • 05/06/2025 06:57 PM

Ringgit Ends Higher On Weaker US Dollar, Cautious Inflation Outlook

By Anas Abu Hassan

KUALA LUMPUR, June 5 (Bernama) -- The ringgit closed higher against the US dollar on Thursday, supported by a weaker greenback following downbeat United States economic data, as investors shifted into risk-on mode.

At 6 pm, the local note stood at 4.2245/2295 against the greenback, strengthening from Wednesday’s close of 4.2435/2490.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said traders and investors were weighing the prospects of an economic slowdown and the risk of higher inflation stemming from recent tariff shocks.

"This has led to a policy dilemma among Federal Open Market Committee (FOMC) members, and hence the scope for interest rate cuts is rather limited," he told Bernama, adding that the next key data point would be the Non-farm Payroll (NFP) report due on Friday.

Consensus estimates expect May’s NFP to reach 130,000, down from 177,000 in April, while the unemployment rate is forecast to hold steady at 4.2 per cent.

At the close, the ringgit traded mostly higher against a basket of major currencies.

It slipped against the Japanese yen to 2.9495/9531 from Wednesday’s 2.9444/9486 but strengthened versus the euro to 4.8235/8292 from 4.8300/8362 and appreciated against the British pound to 5.7301/7369 from 5.7427/7502.

The local currency also traded higher against most of its ASEAN peers.

It appreciated versus the Singapore dollar to 3.2881/2922 from 3.2906/2951, advanced against the Indonesian rupiah to 259.3/259.8 from 260.4/260.8, and edged higher against the Philippine peso to 7.59/7.61 from 7.60/7.62.

However, it fell against the Thai baht to 12.9925/13.0138 from 12.9679/12.9911.

-- BERNAMA 

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