Ringgit ends lower against the greenback

Positive data from the United States prompted investors to return to the greenback.

KUALA LUMPUR: The ringgit retreated from Tuesday’s gains to close lower against the US dollar yesterday, as positive data from the United States prompted investors to return to the greenback.

At 6pm, the ringgit slid to 4.5000/5050 against the greenback from Monday’s close of 4.4850/4900.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid told Bernama that the ringgit was mostly flat against the greenback with dollar / ringgit ranges between RM4.4885 and RM4.5005.

“Positive data points in the United States last night, such as job openings, have bolstered the case for a gradual monetary easing by the Federal Reserve."