KUALA LUMPUR, June 29 — The ringgit reversed gains versus the US dollar and finished lower today, alongside other South-east Asian currencies as deteriorating Covid-19 situations in each country is sapping sentiment, a dealer said.
At 6pm, the local note depreciated to 4.1510/1530 from yesterday’s close at 4.1445/1495.
OANDA Asia Pacific senior market analyst Jeffrey Halley said the baht, ringgit and rupiah remained under pressure and would likely remain so throughout the week.
“US dollar/ringgit is trading at 4.1500 today and could retest 4.1650 this week. The greenback/Asia will remain under pressure this week and only a massive downside miss by Friday’s US employment data, leading to a softer greenback, is likely to reverse that course,” he said.
At the close, the ringgit was traded mixed against a basket of major currencies.
The local note improved further versus the British pound to 5.7516/7544 from 5.7700/7769 at Monday’s close and appreciated against the euro to 4.9434/9458 from 4.9481/9541.
However, it was lower versus the Singapore dollar at 3.0883/0900 from 3.0865/0906 recorded yesterday, and the local note was down vis-a-vis the yen to 3.7538/7560 from 3.7439/7484 previously. — Bernama
