Ringgit ends lower against US dollar on upbeat US economic data

KUALA LUMPUR: The ringgit closed lower today on upbeat US economic data, amidst softer trade figures from Asia’s top export countries.

As at 6pm, the ringgit was traded at 4.1410/1440 versus the greenback compared with 4.1380/1420 on Friday.

A dealer said US data on Friday showed that the world’s largest economy had maintained a moderate pace of growth despite the volatility brought about by tensions with China.

“Weaker exports data from Thailand and Asia’s fourth-largest economy, Korea, knocked regional sentiment further,” he said.

Thailand’s November exports dropped 7.4% year-on-year while Korea’s exports during the December 1-20 period slid 2.0% in value from the same period a year earlier.

Meanwhile, the ringgit was mixed against a basket of major currencies.

It fell against the Singapore dollar to 3.0536/0569 from 3.0518/0559 on Friday and weakened against the Japanese yen to 3.7855/7893 from 3.7842/7889.

The local unit appreciated against the British pound to 5.3866/3922 from 5.3955/3024 and strengthened against the euro to 4.5891/5940 from 4.6010/6067 previously. - Bernama

source https://www.thesundaily.my/business/ringgit-ends-lower-against-us-dollar-on-upbeat-us-economic-data-AN1816983