THE ringgit made a small rebound from yesterday’s loss to end higher against the greenback today as US Treasury bonds retreated from 16-year highs, dealers said.

At 6pm, the local note climbed to 4.7255/7300 against the US dollar from yesterday’s close of 4.7285/7320.

A dealer said the softer-than-expected September US private payrolls data released yesterday, coupled with the continued downtrend in oil prices left the benchmark US 10-year Treasury yield down from a fresh 16-year high in midweek. The yield on the 10-year Treasury last traded at 4.735% after rising as high as 4.884% yesterday, hitting a 16-year high.

He said investors were now awaiting tomorrow’s nonfarm payrolls report.

The ringgit was traded mostly lower versus a basket of major currencies.

It went down against the yen to 3.1719/1751 from 3.1703/1729 at yesterday’s close, declined against the euro to 4.9651/9698 from 4.9645/9681, but appreciated vis-a-vis the British pound to 5.7283/7337 from 5.7343/7385.

The local note was traded mixed against other Asean currencies.

It decreased versus the Thai baht to 12.7927/8115 from 12.7549/7685 yesterday but was almost flat against the Indonesian rupiah at 302.4/303.0 from 302.4/302.8 previously.

It was higher against the Philippine peso at 8.33/8.35 compared with yesterday’s close of 8.34/8.35 and strengthened against the Singapore dollar to 3.4442/4478 from 3.4462/4492 previously. – Bernama, October 5, 2023.