KUALA LUMPUR, July 8 — The ringgit closed lower against the US dollar in line with most emerging Asian currencies, as the greenback rose to a three-week high against major currencies, said a dealer.
At 6pm, the local currency stood at 4.1390/1420 versus the greenback compared with last Friday’s close of 4.1340/1370.
The weaker Asian currencies, including the ringgit, were due to a solid US job data released last week, which lowered the investors’ expectations of a US Federal Reserve interest rate cut.
At the close, the ringgit traded mostly higher against a basket of major currencies.
It rose against the Japanese yen to 3.8158/8189 from 3.8267/8306 on Friday, strengthened versus the Singapore dollar to 3.0436/0463 from 3.0460/0493 and improved against the euro to 4.6473/6511 from 4.6557/6607 previously.
The local currency, however, traded unchanged against the pound at 5.1882/1937 from 5.1882/1932. — Bernama
