KUALA LUMPUR, Nov 6 — The ringgit strengthened against the US dollar for the second consecutive day today as clearer direction in the outcome of the US elections weakens the US dollar.

At 6pm, the local currency stood at 4.1275/1325 versus the greenback compared with yesterday’s closing of 4.1480/1530.

Axi chief global market strategist Stephen Innes said the US dollar turned weaker amid the "risk-on” mood, with lower US yields also adding to the downside.

"Risk-on can be seen in the increased likelihood of a gridlock in the US Congress,” he said.

The ringgit was mixed against other major currencies at the close today. 

It rebounded against the Singapore dollar to 3.0624/0668 from yesterday’s close of 3.0626/0672 and improved slightly against the euro to 4.8923/8995 from 4.8926/8989.

The local currency declined against the British pound to 5.4231/4313 from 5.4115/4197 previously and fell vis-a-vis the yen to 3.9918/9978 from 3.9789/9841 yesterday. — Bernama