Ringgit Ends Lower Against US Dollar

KUALA LUMPUR, Jan 16 (Bernama) -- The ringgit ended lower against the US dollar Monday in line with its Asian peers as sentiment turned cautious ahead of comments from Federal Reserve (Fed) officials this week, dealers said. At 6 pm, the local unit was traded at 4.4640/4680 against the greenback from 4.4600/4640 on last Friday. A dealer said traders can expect further clues on market direction when officials of the Fed, led by its chair Janet Yellen, speak on Wednesday and Thursday. "President-elect Donald Trump's inauguration on Jan 20, also contributed to the cautious sentiment," he added. Meanwhile, Hong Leong Investment Bank stayed bullish on the ringgit's performance against the dollar, in riding on the back of firmer oil prices and continued retracement of the greenback. The ringgit, meanwhile, traded mostly higher against a basket of major currencies, except the Japanese yen. It rose against the Singapore dollar to 3.1208/1245 from 3.1243/1282, improved against the British pound to 5.3845/3911 from 5.4439/4497 and gained against the euro at 4.7269/7321 from 4.7468/7524 on Friday. However, the ringgit slipped against the yen to 3.9069/9107 from 3.8898/8949. -- BERNAMA