Ringgit closes lower against greenback despite weaker US dollar index

KUALA LUMPUR: The ringgit retreated against the greenback on Tuesday despite the weaker US dollar index (DXY) and lower US Treasury yields after the recent downgrade of the credit rating of the United States by Moody’s Ratings.

At 6 pm, the local note eased to 4.2950/3010 versus the greenback from yesterday’s close of 4.2870/2945.