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Ringgit unchanged against US dollar at the close

07/04/2021 06:47 PM

KUALA LUMPUR, April 7 -- The ringgit closed unchanged against the US dollar today amid a mixed market sentiment.

 At 6 pm, the local currency remained at 4.1300/1330 against the greenback.

Axi chief global markets strategist Stephen Innes said the ringgit remained mired between the competing forces of softer US yields and lower oil prices.

“Most forex traders expect the dollar to drift off and the markets seem to feel that the dollar has reached its upper bounds, so it's more a case of not wanting to buy it further,” he said. 

Meanwhile, the ringgit was traded mostly lower against other major currencies.

At 6 pm, the local note rose versus the British pound to 5.7072/7122 from 5.7110/7168 previously

However, it had weakened further against the Singapore dollar to 3.0828/0857 from 3.0791/0820 yesterday, fell against the euro to 4.9077/9125 from 4.8775/8827 at Tuesday’s close and declined vis-a-vis the yen to 3.7607/7645 from 3.7376/7406 yesterday.


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