Ringgit Falls as China’s Growth & US Recovery Slows

Asian currencies, the Malaysian ringgit among them, were down today as negative data from China on the weekend followed poor macroeconomic reports from the United States on Friday.
China’s Purchasing Manufacturing Index fell to 55.2 in May from 56.1 in April. The report followed Friday’s US non-farm payrolls that showed employment growing by just 69,000. The data signaled that global economic recovery is slowing and that had a negative impact on assets of emerging economies. The MSCI Asia-Pacific Index of stocks fell for a fourth session.
USD/MYR rose from 3.1961 to 3.2018 as of 14:18 GMT today.

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