KUALA LUMPUR: The ringgit ended unchanged against the US dollar today, closing at 4.1630/1660 on lack of fresh leads, said an analyst.
Axi Trader Asia-Pacific market strategist Stephen Innes said the ringgit and the yuan were likely to trade on a tight band ahead of the United States (US)-China negotiations.
“China’s Central Economic Work Conference is the risk to watch for tomorrow, as it should set the policy theme for 2020.
“More fiscal spending from the Chinese government could help the local currency sentiment,” he told Bernama.
Meanwhile, IQI Global chief economist Shan Saeed expected the US dollar to remain weak in 2020, saying that the greenback is peaking at the moment and financial markets are nervous as policy levers in the US and Europe have reached their limits and cannot go any further.
At the close, the ringgit traded mixed against other major currencies.
The local note fell against the Singapore dollar to 3.0613/0639 from 3.0610/0637 on Tuesday and declined versus the euro to 4.6139/6180 from 4.6105/6155 previously.
However, it went up against the yen to 3.8298/8333 from 3.8330/8368 yesterday and strengthened against the British pound to 5.4689/4745 from 5.4768/4816 previously. - Bernama
