Ringgit ends lower against US dollar

KUALA LUMPUR: The ringgit ended lower against the US dollar on higher demand for the greenback with investors highly positive on US economic growth.
At 6pm, the ringgit was quoted at 4.0160/0190 against the greenback compared with 4.0010/0040 recorded at Friday's close.
FXTM Global Head of Currency Strategy & Market Research, Jameel Ahmad said the latest round of buying momentum for the US dollar suggested that investors were not expecting the US economy to be as negatively impacted by the prospect of a global trade war in comparison to the economies it was targeting.
"This without saying is not positive news for the ringgit, nor its emerging market counterparts," he said in a note.
Meanwhile, the local unit was traded mixed against a basket of currencies.
It rose against the Singapore dollar to 2.9454/9486 from 2.9484/9511 last Friday and improved against the British pound to 5.3168/3220 from 5.3189/3245.
The ringgit weakened against the Japanese yen to 3.6669/6707 from 3.6323/6360 and declined against the euro to 4.6782/6821 from 4.6644/6683 previously. — Bernama