Ringgit retreats to end lower against dollar

KUALA LUMPUR: The ringgit retreated to end lower against the US dollar today, after five consecutive days of massive gains, dealers said.
At 6pm, the local unit ended at 4.1155/1185 against the greenback from 4.1050/1100 on Thursday.
A dealer said the ringgit had run its course after five consecutive days of gains and could be in for a pullback.
"Buying interest waned, going into the weekend, following the very quiet overnight trading session as most US traders were off to celebrate Thanksgiving Day.
"October's Consumer Price Index came in at 3.7% and this possibly reinforced the expectation that interest rates may increase in the near-term and lent support to the local currency," he said.
Against a basket of major currencies, the ringgit was traded lower.
The local currency fell against the Singapore dollar to 3.0553/0584 from 3.0486/0537 yesterday and weakened against the euro to 4.8835/8887 from 4.8607/8679 on Thursday.
It decreased against the British pound to 5.4839/4895 from 5.4621/4692 on Thursday and reduced vis-a-vis the yen to 3.6927/6964 from 3.6892/6944 yesterday. — Bernama