Greenback remains highly sought after as traders wait for more clues, says analyst.
KUALA LUMPUR: The ringgit ended lower against the US dollar at today’s close after the latest Chinese manufacturing data came in weaker than expected, while investors await cues from the upcoming US Federal Reserve meeting.
Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said the US dollar remains highly sought after as market participants wait for more clues from the US Federal Open Market Committee meeting on Nov 1. Closer to home, the Bank of Japan’s upper limit for the Yield Curve Control has been raised from 0.25% in July to 1%.
At 6pm, the ringgit slipped to 4.7615/4.7655 against the greenback from yesterday’s close of 4.7600/4.7645.
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