KUALA LUMPUR: The ringgit ended slightly lower against the US dollar for the second consecutive day today as the positive developments on the United States (US)-China trade talk boosted demand for the greenback.
As at 6pm, the local note was traded at 4.1410/1440 versus the dollar compared with 4.1400/1440 on Monday.
A dealer said risk appetite for the US dollar improved after US President Donald Trump approved the country’s phase-one trade deal with China, thus scrapping new tariffs on Chinese goods which were scheduled to take effect next week.
According to people familiar with the matter, the deal presented to Trump by trade advisers included a promise by the Chinese to buy more US agricultural goods.
Meanwhile, the ringgit traded mixed against a basket of major currencies.
It rose against the Japanese yen to 3.7773/7810 from 3.7836/7876 on Monday, and strengthened versus the British pound to 5.4636/4693 from 5.5194/5264.
The local unit, however, depreciated against the Singapore dollar to 3.0552/0585 from 3.0542/0583 and weakened vis-a-vis the euro to 4.6168/6218 from 4.6086/6148 yesterday. — Bernama
source https://www.thesundaily.my/business/ringgit-ends-easier-against-us-dollar-BH1786470
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