Ringgit ends lower as GE14 looms

Oanda Head of Trading Asia-Pacific Stephen Innes said market sentiment was weighed down by the election. — Reuters pic
Oanda Head of Trading Asia- Stephen Innes said market sentiment was weighed down by the election. — Reuters pic

, April 27 — The ringgit closed lower against the today in the absence of foreign fund managers and ahead of the upcoming 14th General election, a dealer said.

At 6pm, the ringgit was quoted at 3.9170/9205 compared with 3.9150/9200 on Thursday.

Oanda Head of Trading Asia-Pacific Stephen Innes said market sentiment was weighed down by the election, which was only ten days away, coupled with the unusual gains in US 10-year treasury note yields.

“All this should cap the ringgit’s movement within a narrow range,” he told Bernama.



The ringgit, however, was mixed against a basket of major currencies.

It fell against the dollar to 2.9531/9562 from 2.9512/9554 on Thursday and decreased against the Japanese yen to 3.5834/5869 from 3.5812/5874 yesterday.

The local note appreciated against the British pound to 5.4031/4103 from 5.4567/6649 previously and strengthened against the euro to 4.7317/7375 from 4.7669/7742. — Bernama

Source: The Malay Mail Online





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