KUALA LUMPUR: The ringgit ended lower against the US dollar yesterday as expectations of a US Federal Reserve (Fed) rate hike continued to weigh on regional market sentiment.
At 6pm, the local note depreciated to 4.0920/0965 versus the greenback from 4.0825/0870 at Tuesday’s close.
Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said Asian currencies were generally weaker against the US dollar as investors remained focused on the possibility of further monetary tightening by the Fed.
“The US Job Openings and Labour Turnover Survey report showed that the number of job openings was higher than consensus estimates in May. Markets will next be observing the ADP Employment Change for June,” he told Bernama.
