KUALA LUMPUR, Sept 8 — The ringgit ended lower against the US dollar for the second consecutive day today due to lack of fresh catalysts, said an analyst.

At 6pm, the domestic unit stood at 4.1650/1700 against the greenback from yesterday’s close of 4.1550/1600.

AxiCorp chief global market strategist Stephen Innes said the market traded in a relatively confined range but sentiment was weighed down trying to digest threatening US-China trade comments from US President Donald Trump, causing negative reverberations across a plethora of asset classes.

"None more important to the ringgit than oil prices which remain very depressed due to a weaker demand outlook,” he told Bernama.

Brent crude declined 1.74 per cent to US$41.28 (RM172) per barrel.

Meanwhile, RHB Investment Bank said risks remained for the ringgit with respect to the FTSE Russell’s decision this month to keep Malaysia in its World Government Bond Index.

The investment bank maintained its exchange rate outlook, with ringgit/US dollar expected to trade at 4.15 by year-end and 3.95 by end-2021.

"The country remains attractive amid its high yields and better domestic recovery. In addition, the waning appeal for US dollar assets lends support to regional currencies in general,” said RHB Investment Bank in a note earlier today.

The ringgit was traded mostly higher against other major currencies.

It surged against the British pound to 5.4412/4494 from yesterday’s 5.4804/4887 and advanced against the euro to 4.9118/9185 from 4.9145/9209. 

The domestic unit appreciated against the Singapore dollar to 3.0399/0458 from 3.0411/0452 but eased against the yen to 3.9156/9214 from 3.9113/9171. — Bernama