Ringgit ends easier vs USD on cautious sentiments
KUALA LUMPUR, The ringgit continued its downward trend, closing lower against the US dollar today as cautious sentiments over the global economic outlook persisted, an analyst said. At 6 pm, the ringgit declined to 4.4950/5010 versus the greenback from yesterday’s close of 4.4725/4770. Speaking to Bernama, Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid attributed the ringgit’s depreciation to risk aversion as the US Dollar Index (DXY) had strengthened. “Traders are favouring safe-haven currencies, particularly the US dollar. “Nevertheless, we are unperturbed by the recent weaknesses as the ringgit appears to have overshot, while dovish signals from