KUALA LUMPUR, April 5 — The ringgit ended lower against the US dollar today on lack of demand for the local note, while the greenback is supported by strong US data and infrastructure prospects, but weighed by US long bond yields that unexpectedly fell quite sharply.
At 6pm, the local currency was traded at 4.1400/1450 against the greenback from 4.1380/1420 at last Friday’s close.
OANDA Asia Pacific senior market analyst Jeffrey Halley said the dollar index had a volatile week last week, while the technical picture showed the index consolidating recent impressive gains despite the noisy tail-chasing ranges.
“Based on a technical view, it suggests that the US dollar rally has run its course for now,” he said in a statement.
At 6 pm, the ringgit, however, was traded mostly higher against other major currencies.
The local note gained against the Singapore dollar to 3.0776/0825 from 3.0780/0816, strengthened vis-a-vis the yen to 3.7422/7477 from 3.7455/7494 and improved against the euro to 4.8604/8671 from 4.8733/8797 at Friday’s close.
However, it fell versus the British pound to 5.7360/7437 from 5.7241/7309 previously. — Bernama
