KUALA LUMPUR, Nov 7 — The ringgit eased against the US dollar at the close today, as demand shifted to the greenback ahead of the US presidential election tomorrow, an analyst said.
At 6 pm, the local unit was traded at 4.2070/2120 against the greenback from last Friday’s 4.1970/1020.
FXTM Vice President of Market Research, Jameel Ahmad, said the US dollar received a boost on news that Democrat presidential candidate, Hillary Clinton, would not face any charges related to the use of her private e-mail server.
“This has provided encouragement for the markets to start the rebound from the losses last week, most noticeably resulting with the US dollar charging higher across the foreign exchange markets,” he said.
Meanwhile, the ringgit was traded higher against a basket of major currencies.
The local note was higher against the British pound at 5.2146/2212 from 5.2370/2445 last Friday and rose against the euro to 4.6525/6593 from 4.6583/6642 previously.
It increased against the Singapore dollar to 3.0260/0307 from last Friday’s 3.0288/0333 and was sharply higher against the yen to 4.0243/0302 from 4.0759/0820 previously. — Bernama
