Ringgit ends easier against US Dollar

A dealer said April 16, 2019, talk of a possible rate hike spurred some buying interest in the US dollar. — Reuters pic
A dealer said April 16, 2019, talk of a possible rate hike spurred some buying interest in the US dollar. — Reuters pic

KUALA LUMPUR, April 16 — The ringgit closed easier against the US dollar today on better sentiment towards the greenback, dealers said.

At 6pm, the ringgit eased to 4.1310/1350 against the US dollar from 4.1080/1110 at yesterday’s close. 

A dealer said talk of a possible rate hike spurred some buying interest in the US dollar.

Chicago Federal Reserve Bank President Charles Evans reportedly said low inflation readings could possibly refrain the central bank from further tightening, possibly well into next year.

However, US President Donald Trump’s criticism of the Federal Reserve over the weekend, blaming it for slowing growth and damping stock prices by tightening monetary policy, limited the upsides.

Against other major currencies, the ringgit traded lower.

It fell against the Singapore dollar to 3.0485/0526 from 3.0378/0405 yesterday and weakened versus the Japanese yen to 3.6923/6963 from 3.6698/6728.

The local unit was also lower vis-a-vis the euro at 4.6639/6688 from 4.6470/6520 and contracted against the British pound to 5.4033/4102 from 5.3815/3866. — Bernama

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