Ringgit ends lower against US dollar on technical correction

KUALA LUMPUR: The ringgit ended lower versus the US dollar today as the local note experienced a technical correction due to profit-taking activities, dealers said.

At 6 pm, the local currency was marginally lower against the greenback at 4.3980/4010 from Tuesday's close of 4.3960/3975.

A dealer said market sentiment was also weighed by the stronger greenback amid a lack of domestic catalyst to lift the local currency.

"However, the higher commodity prices might help improve the value of the ringgit going forward,” he said.

At the time of writing, global benchmark Brent crude oil was traded at US$118.2 per barrel, up by 0.20 per cent.

Meanwhile, the local currency traded higher against a basket of major currencies.

The ringgit rose against the British pound to 5.3480/3516 from Tuesday's close of 5.3899/3918 and climbed versus the Japanese yen to 3.2217/2242 from 3.2333/2346 previously.

It gained against the Singapore dollar to 3.1645/1671 from 3.1726/1742 and strengthened against the euro to 4.6227/6259 from 4.6527/6543 yesterday. - Bernama

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Ringgit , US dollar , Brent crude oil


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