KUALA LUMPUR, Sept 30 — The ringgit ended lower against the US dollar today as the greenback strengthened, driven by increasing expectation that the Federal Reserve would taper asset purchases by end of the year, a dealer said.
At 6pm, the local note fell to 4.1855/1870 against the greenback from yesterday’s closing of 4.1830/1855.
The dealer said the US dollar was partially supported by concerns over a tighter liquidity environment following the US Treasury secretary’s warning that the country risked running out of money as the Senate failed to advance a bill to suspend the debt limit.
“Nevertheless, economic data release was positive with the number of pending homes sales in the US jumping 8.1 per cent month-on-month in August, up from a two per cent contraction in July and above the market forecast of 1.4 per cent,” he said.
Meanwhile, OANDA Asia Pacific senior market analyst Jeffrey Halley noted the US dollar may also be receiving inflows related to the bond market or from haven buyers nervous about negative developments around the world.
At the close, the ringgit was traded higher against a basket of major currencies.
The local note gained against Singapore dollar to 3.0760/0775 compared with 3.0821/0844 at yesterday’s close and improved versus the British pound to 5.6308/6328 from 5.6579/6613 previously.
It also appreciated vis-a-vis the euro to 4.8531/8548 from 4.8799/8828 yesterday and strengthened against the Japanese yen to 3.7394/7407 from 3.7586/7609. — Bernama
