Ringgit extends losses against us dollar at closing

KUALA LUMPUR: The ringgit extended its losses against the US dollar today, dampened by the firmer greenback on the prospect of higher US inflation, dealers said.
At 6pm, the ringgit was quoted at 3.8950/8000 from 3.8890/8920 on Thursday.
OANDA Head of Trading in Asia-Pacific Stephen Innes said despite the increase in oil and commodity prices, the ringgit was unable to cushion the impact, as most investors remained on the sidelines ahead of the coming general election.
"While sideways trading dominated most of the week, there has been more local selling today due to higher US yields, so the ringgit weakened slightly in kind today," he told Bernama.
The ringgit, however, ended mostly higher against a basket of major currencies except for the yen.
The local note rose marginally against the Singapore dollar to 2.9624/9665 from 2.9694/9728 on Thursday and appreciated against the yen to 3.6172/6229 from 3.6214/6252.
It strengthened against the British pound to 5.4779/4865 from 5.5204/5263 yesterday and vis-a-vis the euro, it advanced to 4.7909/7982 from 4.8103/8144 on Thursday. — Bernama