Ringgit end marginally lower against US dollar

KUALA LUMPUR: The ringgit ended marginally lower against the US dollar today as the stronger greenback curbed demand for the local unit, dealers said.
At 6pm, the local unit finished at 4.2240/2260 versus the US dollar from 4.2220/2250 on Thursday.
A dealer said the greenback rebounded against a basket of major currencies after the Republican-dominated United States Senate passed a budget blueprint, which paved the way for tax cuts without the Democratic party's support.
Speaking to Bernama, the dealer said this sparked positive sentiment towards the safe haven currency alongside hopes for a fiscal boost to the economy.
Another dealer said the upcoming 2018 Budget, which will likely target the need to assist the bottom 40% household income group (B40), helped lend support to the ringgit today.
"However, demand for the US dollar was stronger," he added.
Meanwhile, the ringgit ended mostly higher against other major currencies, except for the euro, against which it fell to 4.9885/9922 from 4.9870/9923 on Thursday.
The ringgit rose against the Singapore dollar to 3.1057/1085 from 3.1097/1123, strengthened versus the Japanese yen to 3.7252/7279 from 3.7466/7502, and appreciated against the British pound to 5.5512/5555 from 5.5536/5593. — Bernama