Ringgit slips against US dollar after two days of gains

Ringgit slips against US dollar after two days of gains

KUALA LUMPUR: The ringgit ended slightly lower against the US dollar today on mild profit-taking activities after two days of gains, a dealer said.

At 6pm, the local note stood at 4.1200/1220 against the greenback from 4.1165/1175 yesterday.

The dealer said investors remained cautious over the uncertainties on the global economic outlook this week, focusing on the upcoming US Federal Reserve meeting on inflation data.

He said investors were awaiting for the outcome of the US Core Consumer Price Index (CPI) and the initial jobless claims data, which are likely to be the main market movers today.

Meanwhile, the local note was mostly higher against a basket of major currencies.

The ringgit depreciated against the yen to 3.7622/7640 from 3.7604/7616.

However, the domestic unit rose against the Singapore dollar to 3.1085/1102 from 3.1103/1115, edged up vis-a-vis the euro to 5.0120/0144 from 5.0176/0188 and improved against the British pound to 5.8084/8112 from 5.8347/8361 previously. — Bernama

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