KUALA LUMPUR: The ringgit further weakened against the US dollar today on lower demand, amid signs of renewed US-China trade tensions, dealers said.
At 6 pm, the ringgit was traded at 4.1130/1150 against the US dollar from Wednesday’s close of 4.1125/1165.
News reports have highlighted that progress in the US-China trade talks has come to a halt as the US government determines how to address Beijing’s demand that it ease restrictions on Huawei Technologies Co.
US and Chinese trade negotiators spoke last week on discussing the next steps, but officials did not cite any progress after that.
Though another call is expected this week, Beijing is waiting to see what the US does on Huawei before making commitments, according to people familiar with the talks.
A dealer said the recent fall in oil prices has also hampered the ringgit’s strengthening against the greenback.
The ringgit was also lower against other major currencies.
Against the yen, it fell to 3.8161/8187 from 3.7991/7031 on Wednesday and declined against the pound to 5.1269/1310 from 5.1003/1057.
The local unit eased against the euro at 4.6189/6228 from 4.6122/6183 and depreciated to 3.0234/0253 against the Singapore dollar from 3.0221/0255. — Bernama
