KUALA LUMPUR, May 14 — The ringgit closed lower against the US dollar today as cautious mood prevailed ahead of the release of the gross domestic product (GDP) data on Thursday, dealers said.
At 6pm, the ringgit was lower at 4.1690/1720 against the greenback compared with 4.1620/1670 at yesterday’s close.
A dealer said sentiment in the market was weighed down by expectations of softer economic data for the first quarter of this year.
He said the ringgit failed to track the emerging Asian currencies that strengthened after comments from the United States and China reduced investor anxiety over the escalating tariff war between the world’s two biggest economies.
“Emerging market sentiment was buoyed after US President Donald Trump’s statement that he felt trade talks between Beijing and Washington were ‘going to be very successful’, while China’s top diplomat said the two nations have the ‘ability and wisdom’ to reach a deal,” he said.
The ringgit was traded mostly lower against other major currencies.
The local note traded easier against the Singapore dollar at 3.0466/0499 from yesterday’s 3.0435/0483 and depreciated against the Japanese yen to 3.8018/8048 from 3.7943/7996.
The local currency strengthened vis-a-vis the British pound to 5.3955/4011 from 5.4189/4263 but decreased against the euro to 4.6843/6885 from 4.6768/6837 yesterday. — Bernama
