Ringgit ends lower

A Malaysia Ringgit note is seen in this illustration photo June 1, 2017. — Reuters pic
A Malaysia Ringgit note is seen in this illustration photo June 1, 2017. — Reuters pic

KUALA LUMPUR, Aug 20 — The ringgit ended lower against the US dollar today as the greenback climbed to its highest this year, backed by optimism over possible stimulus to counter the global economic slowdown.

At 6pm, the ringgit finished at 4.1810/1860 against the greenback from 4.1750/1790 on Monday.

VM Markets Pte Ltd managing partner Stephen Innes said the dollar remains supported by US growth differentials.

“The strong US economic data versus the weaker data in Europe and China makes the greenback more attractive,” he told Bernama

There are also a lot of nervous investors ahead of US-China trade talks scheduled for next month.

“I think until there is a definitive or positive sign from those talks only then will the ringgit significantly strengthen,” he added.

The ringgit was traded mixed against other major currencies.

The local note was better against the British pound at 5.0569/0646 from 5.0593/0645 on Monday and versus the euro to 4.6334/6393 from 4.6338/6399.

It was weakened against the yen at 3.9321/9372 from 3.9183/9228 and against the Singapore dollar to 3.0164/0204 from 3.0144/0184. — Bernama

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