Malaysian Ringgit Ends Lower Against US Dollar On Technical Correction

KUALA LUMPUR, Sept 23 (Bernama) -- The Malaysian ringgit extended its earlier losses to end slightly weaker against the US dollar on Friday on continued technical correction after its recent gains, a dealer said. At 6 pm, the ringgit was quoted at 4.1100/1170 against the greenback from 4.1060/1110 on Thursday. However, the outlook for the ringgit remained bullish as the US Federal Reserve (Fed) trimmed the longer-term rate view during its two-day meeting. He said the Fed also projected a less aggressive rise in rates next year and in 2018, and cut its longer-run interest rate forecast to 2.9 per cent from 3.0 per cent. Meanwhile, the ringgit was traded higher against a basket of major currencies. The ringgit strengthened against the euro to 4.6085/6168 from 4.6114/6187 yesterday and rose against the Singapore dollar to 3.0256/0319 from 3.0303/0362 on Thursday. It strengthened against the British pound to 5.3475/3587 from 5.3665/3735 yesterday and appreciated against the yen to 4.0721/0795 from 4.0750/0816 previously. --BERNAMA