{"id":15471,"date":"2022-11-10T12:39:05","date_gmt":"2022-11-10T04:39:05","guid":{"rendered":"https:\/\/newmalaysiatimes.com\/?p=15471"},"modified":"2022-11-10T12:39:06","modified_gmt":"2022-11-10T04:39:06","slug":"ringgit-retreats-against-us-dollar-on-technical-correction","status":"publish","type":"post","link":"https:\/\/newmalaysiatimes.com\/?p=15471","title":{"rendered":"Ringgit retreats against US dollar on technical correction"},"content":{"rendered":"\n

KUALA LUMPUR, Nov 10<\/strong> — The ringgit retreated versus the US dollar today on technical correction after\u00a0three consecutive days of gains\u00a0amid mixed overnight greenback performance.<\/p>\n\n\n\n

At 9.06 am, the local note eased marginally to 4.7100\/7150 against the US dollar from Wednesday\u2019s close of 4.6885\/6950.<\/p>\n\n\n\n

SPI Asset Management managing director\u00a0Stephen Innes said after a significant ringgit rally yesterday, understandably, the local currency\u00a0has pulled back versus the greenback ahead of the hotly anticipated US Consumer Price Index (CPI) later today.<\/p>\n\n\n

\n
\"technical<\/figure><\/div>\n\n\n

He said the US dollar was choppy in its overnight performance, but the direction turned higher ahead of US CPI print as weaker China data sent growth fears reverberating through G-10 forex exchange markets.<\/p>\n\n\n\n

He also believes that the ringgit was piggybacking the Thailand currency as the Thai baht was more robust with substantial foreign investment flows likely due to travel sector optimism. <\/p>\n\n\n\n

This is an optimistic signal that money is coming back into the region, and will be challenging for neighbours to ignore as both currencies are sensitive to tourism flows.<\/p>\n\n\n\n

\u201cFor today, however, excess risk-taking is likely to be pared back. I expect\u00a0to see the ringgit rally materially ahead of the US CPI print,\u201d<\/em> he told Bernama.<\/p>\n\n\n\n

The ringgit traded mostly lower against a basket of major currencies, except against the British pound, it was marginally higher at 5.3628\/3685 from 5.3651\/3725 on Wednesday.<\/p>\n\n\n\n

It declined against the Singapore dollar to 3.3614\/3655 from 3.3513\/3562 previously and fell vis-a-vis the Japanese yen to 3.2225\/2261 from 3.2159\/2208 yesterday.<\/p>\n\n\n\n

The local currency also slipped against the euro to 4.7227\/7277 from 4.7101\/7177 at Wednesday’s close.<\/p>\n\n\n\n

NMT<\/a> as reported by Bernama<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

KUALA LUMPUR, Nov 10 — The ringgit retreated versus the US dollar today on technical…<\/p>\n","protected":false},"author":1,"featured_media":15472,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17,524],"tags":[],"class_list":["post-15471","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-nation"],"featured_image_urls":{"full":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/11\/Screenshot-2022-11-10-at-12.37.52-PM.png",1180,638,false],"thumbnail":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/11\/Screenshot-2022-11-10-at-12.37.52-PM-150x150.png",150,150,true],"medium":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/11\/Screenshot-2022-11-10-at-12.37.52-PM-300x162.png",300,162,true],"medium_large":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/11\/Screenshot-2022-11-10-at-12.37.52-PM-768x415.png",640,346,true],"large":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/11\/Screenshot-2022-11-10-at-12.37.52-PM-1024x554.png",640,346,true],"1536x1536":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/11\/Screenshot-2022-11-10-at-12.37.52-PM.png",1180,638,false],"2048x2048":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/11\/Screenshot-2022-11-10-at-12.37.52-PM.png",1180,638,false],"newsium-slider-full":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/11\/Screenshot-2022-11-10-at-12.37.52-PM.png",1180,638,false],"newsium-featured":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/11\/Screenshot-2022-11-10-at-12.37.52-PM.png",1024,554,false],"newsium-medium":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/11\/Screenshot-2022-11-10-at-12.37.52-PM.png",720,389,false]},"author_info":{"info":["Editor"]},"category_info":"Economy<\/a> Nation<\/a>","tag_info":"Nation","comment_count":"0","_links":{"self":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/15471","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15471"}],"version-history":[{"count":1,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/15471\/revisions"}],"predecessor-version":[{"id":15473,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/15471\/revisions\/15473"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/media\/15472"}],"wp:attachment":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15471"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15471"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15471"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}