KUALA LUMPUR: The ringgit ended lower against the US dollar although it strengthened versus other major currencies yesterday, as the greenback remained supported by stronger- than-expected US manufacturing data.
At 6pm, the local currency eased against the greenback to 4.0945/0985 from Monday’s close of 4.0935/0975.
Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the US dollar is likely to remain well supported as positive economic data from the United States reinforces confidence in the strength of the US economy.
“The US Dollar Index surpassed the 100-point mark again after the US Institute for Supply Management Manufacturing Index for July came in better than expected,” Mohd Afzanizam told Bernama.
Nevertheless, he said the ringgit was mostly flat versus the US dollar and moved within a narrow range throughout the day. — Bernama
