Ringgit ends lower versus US dollar

KUALA LUMPUR: The ringgit ended lower against the US dollar today, following release of the Federal Reserve's (Fed) meeting minutes and amid a discouraging global oil price environment, said dealers.
At 6pm, the local note was quoted at 3.9150/9190 versus the greenback from 3.9040/9080 on Tuesday.
A dealer said the US dollar rose to a more than one-week peak against a basket of other currencies late on Wednesday in extending its recovery from last week, and as minutes of the Fed's January meeting showed policymakers confidence in the need to keep raising interest rates.
"As oil trading is conducted in the US dollar, a rise in the greenback, also makes fuel imports for countries using other currencies domestically more expensive," he added.
Meanwhile, OANDA Corp Head of Trading for Asia Pacific Stephen Innes told Bernama, Asia's foreign exchange will remain in a state of limbo, until the new Fed Chair, Jerome Powell takes the helm later this month.
Meanwhile, the benchmark Brent crude traded 0.46% lower at US$64.85 per barrel.
The ringgit, meanwhile, traded mixed against a basket of major currencies.
It declined against the Singapore dollar to 2.9592/9629 from Wednesday's 2.9551/9595 and depreciated against the yen to 3.6476/6517 from 3.6316/6364.
However, the local unit increased against the British pound to 5.4368/4439 from 5.4531/4599 and appreciated against the euro to 4.8123/8188 from 4.8144/8209. — Bernama