KUALA LUMPUR, Aug 28 — The ringgit closed easier against the US dollar today, with market participants continuing to take a wait-and-see approach as the US-China trade debacle unfolded further.
At 6pm, the ringgit finished at 4.2110/2150 against the greenback from 4.2020/2060 on Tuesday.
A dealer said China unveiled measures late on Tuesday to help boost consumption, including the possible removal of restrictions on auto purchases, as growth in the world’s second-biggest economy faltered.
It was reported that the US central bank rejected a call from a former Federal Reserve policymaker to counter President Donald Trump’s trade agenda by refusing to “play along” and denying the president the interest rate cuts he has demanded.
Meanwhile, the ringgit was traded mostly lower against other major currencies.
It was traded weaker against the yen at 3.9798/9847 from 3.9728/9777 and versus the euro at 4.6704/6753 from 4.6667/6729 previously.
The local unit was lower against the Singapore dollar at 3.0330/0370 from 3.0263/0303 but was higher vis-a-vis the British pound at 5.1353/1419 from 5.1542/1612. — Bernama
