Ringgit ends slightly lower against US dollar

KUALA LUMPUR: The ringgit erased yesterday's gains to close lower against the US dollar in line with other emerging currencies.

At 6pm, the local unit was quoted at 4.2270/2300 against the greenback from yesterday's 4.2260/2300.

The local note fell slightly against the dollar as technical traders would continue to closely observe how the dollar index behaves after the National Employment Report was released in the United States this afternoon.

"A disappointing figure may encourage short-term bears to target 93.00.

"In an alternative scenario, a daily close above 93.70 should open a path back towards 94.00," FXTM Research Analyst Lukman Otunuga said.

The September reading saw 135,000 new jobs last month, which was the smallest increase since October 2016.

The local note however, was traded mixed against other major currencies today.

It strengthened against the Singapore dollar to 3.1026/1060 from Wednesday's 3.1064/1098 and inched up against the yen to 3.7533/7563 from 3.7558/7591 yesterday.

The ringgit depreciated against the euro to 4.9722/9762 from 4.9689/9729 chalked up on Wednesday but weakened against the British pound to 5.5767/5823 from 5.6071/6119 yesterday. — Bernama