KUALA LUMPUR: The ringgit ended the day lower against the US dollar today as the market is cautious over the uncertain global economic outlook and monetary policies.
At 6 pm, the local currency stood at 4.3940/3980 versus the greenback compared with Monday’s close of 4.3870/3915.
ActivTrades trader Dyogenes Rodrigues Diniz said investors would closely monitor US Federal Reserve chairman Jerome Powell's speech because it may provide important hints about the next steps the US central banks will take in terms of monetary policy.
"Should the ringgit continue to retrace from the resistance at 4.3950, we could see the pullback bring the foreign exchange all the way to the 4.3118 region, where it may find temporary support,” he added.
The ringgit was traded lower against a basket of major currencies.
It depreciated further against the Singapore dollar to 3.1966/1999 from 3.1933/1968 on Monday, dropped vis-a-vis the euro to 4.7064/7107 from 4.6840/6888 previously but gained versus the British pound to 5.4885/4935 from 5.5167/5223.
The local note however eased versus the Japanese yen to 3.4506/4540 from 3.4408/4446 yesterday. - Bernama
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