Posted by kk123 > 2016-06-02 18:05 | Report Abuse

KUALA LUMPUR (June 2): The ringgit depreciated to 4.1760 against the U.S. dollar, the weakest point so far today, ahead of the crucial U.S.employment data tomorrow. Employment and inflation data offer clues on the timing of the U.S. interest rate hikes. Today, the ringgit pared losses at 4.1690 against a strengthening U.S. dollar at 10:28am. The exchange rate so far today was between 4.1345 and 4.1760. The US Dollar Index, which measures the U.S. dollar's value against a basket of global currencies, stood at 95.307 at 10:15am. On May 2 this year, the index was at 92.626. Today, Reuters quoted the U.S. Federal Reserve as saying in an anecdotal report that U.S. inflation pressures grew slightly across most of the U.S. from April to mid-May. The report could make the central bank more comfortable that inflation is on track to rise back to the Fed's 2% target.