KUALA LUMPUR, Dec 29 — The ringgit ended slightly lower against the US dollar today, retreating from yesterday’s gains on the lack of a positive boost, said a dealer.
At 6pm, the local note eased to 4.0480/0510 against the greenback from yesterday’s close of 4.0475/0530.
Axi chief global market strategist Stephen Innes said the market closed almost flat today as year-end sees investors’ risk appetite for the ringgit ebb despite global risk dominoes toppling, which sent global risk appetite higher.
“Global risk sentiment continues to trade well and oil prices are holding up, suggesting the ringgit will continue to trade on a favourable note but omnipresent Covid-19 concerns could temper the ringgit’s bullish activity into year end,” he told Bernama.
Meanwhile, the ringgit was traded mixed against other major currencies.
It fell against the Singapore dollar at 3.0484/0509 from 3.0483/0529 yesterday, and depreciated versus the euro to 4.9584/9625 from 4.9570/9649 yesterday.
The local note rose against the Japanese yen to 3.9039/9080 from 3.9114/9178, and ticked up against the British pound to 5.4527/4587 from 5.4856/4938 previously. — Bernama