KUALA LUMPUR, Dec 21 — The ringgit retreated from recent gains to close easier against the US dollar today as favourable greenback sentiment curbed interest for regional currencies, a dealer said.
At 6pm, the local unit stood at 4.0760/0800 against the greenback from Wednesday’s 4.0710/0770.
These included the US November Personal Consumption Expenditure print, preliminary durable and capital goods orders for November, new home sales for November and the final Michigan Sentiment Survey.
“The issue at hand is that even a minor positive change in US dollar sentiment could trigger outsized moves in thin, year-end markets.
“So emerging market-Asia investors are erring on the side of caution heading into Friday, which is considered the last active trading day before we ring in 2018,” he told Bernama.
Meanwhile, the ringgit traded mostly lower against a basket of major currencies.
It depreciated against the Singapore dollar to 3.0287/0332 from 3.0247/0310 on Wednesday, weakened versus the British pound to 5.4525/4590 from 5.4515/4607 and eased against the euro to 4.8423/8474 from 4.8188/8264.
The local unit, however, rose vis-a-vis the yen to 3.5912/5957 from 3.5976/6035 yesterday after the Bank of Japan decided to keep its monetary policy and 10-year government bond yield target unchanged. — Bernama
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.