KUALA LUMPUR – The ringgit finished easier against the US dollar on lack of buying interest, and in line with the weaker Asian currencies, says AxiCorp chief global market strategist Stephen Innes.
He noted that the US dollar safe-haven appeal was dominant today.
As at 6pm, the local note was quoted at 4.1660/1710 compared with yesterday's close of 4.1520/1570.
Innes told Bernama that the local note trade-off was at its worst point as the political cloud casted a shade on the currency market.
“However, the country's capital market has matured over the past decade and will continue to be guided by the strong central bank presence. Political risk seldom has any lasting legs,” he said.
He added that if it were not for other external factors, including a weaker yuan, the ringgit sell-off would have faded in greater earnest.
Against other major currencies, the ringgit was traded mostly higher.
It appreciated against the Singapore dollar to 3.0252/0299 from Wednesday's close of 3.0411/0459 but eased against the British pound to 5.3075/3155 from 5.2872/2944.
The local currency advanced against the euro to 4.8488/8563 from 4.8628/8703 previously and rose versus the yen to 3.9522/9584 from 3.9539/9598. – Bernama, September 24, 2020
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