KUALA LUMPUR, July 26 — The ringgit ended easier against the US dollar today as investors remained on the sidelines ahead of the United States economic policy updates, said an analyst.
At 6pm, the local currency fell to 4.4570/4585 versus the greenback from Monday’s close of 4.4510/4540.
OANDA Asia Pacific senior market analyst Jeffrey Halley said investors were trading cautiously as they awaited the Federal Open Market Committee meeting later today that could signal global economic growth.
“Most of the Asian currencies were in a holding pattern today ahead of the main events for the week, coupled with the US tech earnings results later today,” he said.
Earlier today, Bank Negara Malaysia governor Tan Sri Nor Shamsiah Mohd Yunus said the ringgit had remained relatively stable compared with the currencies of Malaysia’s major trading partners.
She said the country’s nominal effective exchange rate registered a marginal decline of about 0.1 per cent.
Meanwhile, the ringgit traded higher against a basket of major currencies.
The local currency rose against the Singapore dollar to 3.2104/2119 from Monday’s close of 3.2149/2175 and gained versus the British pound to 5.3533/3551 from 5.3621/3657 previously.
It also strengthened vis-à-vis the Japanese yen to 3.2628/2644 from 3.2654/2678 yesterday and appreciated against the euro to 4.5341/5356 from 4.5574/5605.
— Bernama
