KUALA LUMPUR, July 23 — The ringgit extended its downtrend to close easier against the US dollar ahead of the US Federal Reserve’s interest rate decision at its month-end meeting next week.
At 6pm, the ringgit stood at 4.1118/1190 against the greenback from yesterday’s close of 4.1110/1150.
A dealer said markets were seen moving in quiet trading during the current Fed blackout period.
“News flows have been light to start the week, but with the Fed in a blackout period, the usual stream of comments by Fed officials have already been noticeable by their absence,”he said.
He noted that investors were seen waiting on the sidelines, while waiting for announcements by the US.
Meanwhile, the ringgit was traded higher against a basket of major currencies.
It was up against the Singapore dollar at 3.0177/0189 from 3.0219/0253 yesterday, and gained against the yen to 3.8056/8079 from 3.8104/8151.
The local currency also rose versus the British pound to 5.1220/1244 from 5.1248/1306 previously, and advanced vis-a-vis the euro to 4.6023/6042 from 4.6109/6166. — Bernama
