KUALA LUMPUR: The ringgit ended mixed against a basket of currencies on Thursday, as investors continued to buy safe-haven assets.
At 6 pm, the ringgit eased to 3.9630/9670 against the greenback, compared with 3.9510/9550 at the close on Wednesday.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said emerging market currencies were also weaker against the US dollar, noting that the local currency had depreciated by 0.29 per cent to RM3.9645 in the early session.
He noted that the deadlock between the United States and Iran has persisted, with prospects for renewed talks fading.
Hence, he said developments in West Asia will remain a key focus, as they will shape traders’ and investors’ risk appetite.
"It seems that it is going to be defensive mode and therefore, the US dollar could gain some traction,” he told Bernama.
At the close, the ringgit traded mostly lower against a basket of major currencies.
It strengthened against the euro to 4.6343/6390 from 4.6408/6455 at the close on Wednesday, but slid versus the Japanese yen to 2.4809/4836 from 2.4794/4821 yesterday and dipped against the British pound to 5.3504/3558 from 5.3414/3468 previously.
At the same time, the local currency traded mostly higher against regional peers.
It fell against the Singapore dollar to 3.1041/1075 from 3.1030/1063 yesterday, but strengthened against the Thai baht to 12.2066/2242 from 12.2717/2902 previously.
The ringgit rose against the Indonesian rupiah to 229.2/229.5 from 229.9/230.2 at the close on Wednesday and inched up against the Philippine peso to 6.55/6.56 from 6.57/6.58 yesterday. - Bernama
