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KUALA LUMPUR, April 13 — The ringgit closed lower against the US dollar today in cautious trading ahead of the release of the US Consumer Price Index (CPI) data for March, said an analyst.
At 6pm, the local note eased 30 basis points to 4.1340/1360 against the greenback from yesterday’s close of 4.1310/1350.
Axi chief global markets strategist Stephen Innes told Bernama that the new waves of Covid-19 hitting regional shores, which left investors worrying about which country would be next, also put pressure on the local currency.
“Although higher oil prices managed to balance out the day, for the most part investors remained in a wait-and-see mode with the CPI being the main event in the US session later today,” he said.
Meanwhile, the ringgit traded mixed against other major currencies.
It appreciated against the Singapore dollar to 3.0798/0824 from 3.0810/0851 on Monday and improved against the euro to 4.9170/9198 from 4.9171/9227.
However, the local unit slipped against the yen to 3.7802/7834 from 3.7785/7832 yesterday and weakened against the pound to 5.6888/6932 from 5.6743/6807. — Bernama