At 5pm, the ringgit fell to 4.0850/0950 against the US dollar from yesterday’s 4.0150/0220.

MIDF Research Economist, Izzuddin Yussof, said Brexit caused funds to flow into the US and safe haven assets as investors sought shelters from uncertainty from the outcome of the referendum.

“There is a flight to safety in the financial market. Investors are withdrawing their money and pumping them into the US Treasury, US dollar, yen and gold since there will be a lot of uncertainty in the economy and political front after this.

“As such, the US dollar has appreciated significantly and most of our depreciation against the greenback is more due to the appreciation of US dollar,” he told Bernama.

The ringgit was mixed against other major currencies.

It fell against the Singapore dollar to 3.0148/0246 from 3.0028/0096 yesterday and decreased against the yen to 3.9668/9777 from 3.8406/8492 yesterday.
   
The local unit was firmer against the British pound at 5.6806/6961 from 5.9342/9465 yesterday and strengthened against the euro to 4.5450/5573 from 4.5566/5666 previously. — Bernama