KUALA LUMPUR: The ringgit retreated from yesterday’s gains to close lower against the US dollar today as investors returned to the safe-haven asset, driven by the latest developments in the Middle East, a dealer said.
At 6pm, the ringgit was quoted at 4.1000/1030 versus the greenback, compared with 4.0910/0950 on Tuesday.
He said that there was a sense of calm in the market with a significant turnaround in risk sentiment on the restrained US response to Iran’s missile attacks on US airbases in Iraq.
“Iran retaliated to the US killing of Quds Force leader Qassem Soleimani last Friday,” he said.
Meanwhile, the ringgit was traded mostly higher against a basket of major currencies.
It went down against the Singapore dollar to 3.0364/0390 from 3.0331/0369 at Tuesday’s close, and eased against the Japanese yen to 3.7805/7837 from 3.7715/7759 yesterday.
The local note, however, strengthened against the British pound to 5.3780/3835 from 5.3887/3956 previously, and increased against the euro to 4.5662/5712 from 4.5750/5811. – Jan 8, 2020 Bernama