KUALA LUMPUR: The ringgit continued to trade higher against the US dollar at the close Thursday amid the increasing prospect of interest rate cuts in the United States (US), said an analyst.

At 6 pm, the ringgit was traded higher at 4.6855/6895 versus the US dollar from Wednesday's close of 4.6985/7010.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the expectations of a lower US interest rate has also bolstered the risk appetite among market participants, leading to currency appreciation against the greenback regionally, namely the Thai baht, Indonesian rupiah, Philippine peso and the Singapore dollar.