Highlights

Ringgit ends lower against US dollar on technical correction

 Publish date: Tue, 4 Jan 2022, 7:22 PM

KUALA LUMPUR: The ringgit closed lower against the US dollar on Tuesday as the local note had been experiencing technical correction due to profit-taking activities, dealers said.
 
At 6 pm, the local currency was traded at 4.1860/1880 against the greenback from 4.1715/1740 at Monday's close.
 
A dealer said that in the immediate term, investors are expected to focus on a slew of economic data from the US such as the Purchasing Managers' Index numbers and the unemployment rate for clues on market direction.
 
He, however, said the higher commodity prices might help improve the value of the ringgit going forward.
 
At the time of writing, Brent crude was trading 0.71 per cent higher at US$79.54 per barrel. 
 
Meanwhile, the ringgit was traded mostly higher against a basket of other major currencies.
 
The local note gained versus the Singapore dollar to 3.0891/0906 from Monday's close of 3.0917/0929 and improved against the Japanese yen to 3.6133/6153 from 3.6220/6245.
 
It depreciated vis-a-vis the British pound to 5.6465/6489 from 5.6414/6431 on Monday but strengthened against the euro to 4.7310/7337 from 4.7363/7396.
 
 
 - Bernama
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