Ringgit ends lower against US Dollar

KUALA LUMPUR: The ringgit lost ground against the US dollar today, despite the uptrend in some regional currencies, as investors keenly await US President Donald Trump's to unveil tax reforms and infrastructure spending.
At 6pm, the local unit was traded at 4.4380/4420 against the greenback from 4.4370/4400 on Monday.
FXTM Chief Market Strategist Hussein Sayed said expectations were very high for Trump to deliver some concrete plans and if he failed (to do so), many investors will be ready to "push" the sell button.
Currency markets moved within a relatively tight range today, as traders prefer to wait and refrain from taking any big bets ahead of Trump's Congressional address later today in what seems to be the key market driver for the week.
Meanwhile, the local note traded mostly higher against other major currencies.
It fell against the Singapore dollar to 3.1686/1720 from 3.1544/1588 on Tuesday and versus the yen, increased to 3.9477/9527 from 3.9517/9555.
Vis-a-vis the euro, the ringgit depreciated to 4.6990/6045 from 4.6961/7011 and improved against the British pound to 5.5102/5165 from 5.5130/5185. — Bernama