At 6pm, the local currency eased to 4.3880/3925 against the greenback, compared with Tuesday’s close of 4.3835/3905.
KUALA LUMPUR: The ringgit ended marginally lower against the US dollar yesterday, as the greenback strengthened on the back of renewed optimism surrounding US-China trade talks, says an economist.
Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said this happened following comments from US President Donald Trump signalling a possible reduction in tariffs if China is open to negotiations.
At 6pm, the local currency eased to 4.3880/3925 against the greenback, compared with Tuesday’s close of 4.3835/3905.
He added that while the gesture was positively received by financial markets, the actual impact on trade dynamics and currency movements will depend on concrete developments in the negotiations.
“It remains to be seen whether such tactics would yield the desirable outcome.
“At least, there are signs that the US president is willing to make concessions in the current standoff, which has been well accepted by the financial markets,” he told Bernama.
He said thus far, the equities benchmark across the Asian region and early trades in Europe showed some positive indication.
