Bullish global economic outlook provided support for the greenback.
KUALA LUMPUR: The ringgit closed lower against the US dollar yesterday, extending losses as a bullish global economic outlook provided support for the greenback.
At 6pm, the ringgit edged down to 4.5005/5055 versus the US dollar from Wednesday’s close of 4.5000/5050.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid told Bernama that the US Dollar Index continued to march higher to 109.147 points post-Federal Open Market Committee minutes which were released on Wednesday night.
“The US economy’s resilience, along with a hawkish US Federal Reserve, has certainly helped to provide strong support to the US dollar. The next hurdle would be the non-farm payrolls data which will be released on Friday (today),” he said.
