KUALA LUMPUR, Sept 4 — The ringgit ended lower against the US dollar today as the greenback strengthened further amid positive United States economic data, according to an analyst.
Additionally, he said Bank Negara Malaysia is likely to keep the overnight policy rate steady at 3.0 per cent this week when the Monetary Policy Committee members meet this Thursday . “The possibility of another 25 basis points hike by the US Fed is deemed to be dollar-positive. This, in turn, would make the ringgit remain weak in the near term,” he told Bernama.It increased to 5.0230/0273 from 5.0388/0432 at Friday’s close, improved against the British pound to 5.8774/8824 from 5.8878/8929 and rose against the Japanese yen to 3.1786/1818 from 3.1939/1968.It appreciated against the Singapore dollar to 3.4361/4393 from 3.
However, the local currency was lower against the Indonesian rupiah at 305.2/305.7 from 304.6/305.1 and flat against the Philippine peso at 8.21/8.23 from 8.21/8.22. — Bernama
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