At 6pm, the domestic unit stood at 4.1700/1740 against the greenback from 4.1650/1700 yesterday. — Reuters pic
KUALA LUMPUR, Sept 9 — The ringgit ended lower against the US dollar for the third consecutive day, ahead of Bank Negara Malaysia’s Monetary Policy Committee meeting tomorrow.AxiCorp chief global market strategist Stephen Innes said the US dollar was holding again on safe-haven flows, but the recent ringgit sell-off was compounded by a jump in local Covid-19 cases, which is the ultimate “show stopper” these days.
“The bond markets will like a dovish BNM but there are always some concerns that it could lead to a small sell-off. “Still, I think the BNM rate cut will be well received by the currency market as it will be good for domestic growth, hence stock markets,” said Innes. It rose against the British pound to 5.3985/4053 from yesterday’s 5.4412/4494 and advanced against the euro to 4.9060/9124 from 4.9118/9185 yesterday.
The domestic unit depreciated against the Singapore dollar to 3.0447/0487 from 3.0399/0458 previously and eased against the yen to 3.9314/9363 from 3.9156/9214. — Bernama
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