Ringgit closes lower against US dollar

KUALA LUMPUR: The ringgit closed lower against the US dollar but the underlying sentiment remained positive as mild speculative activity was noted.
At 6pm, the local unit was quoted at 4.0730/0780 against the US dollar from 4.0650/0680 on Tuesday.
Oanda Corp Head of Trading for Asia Pacific Stephen Innes said the ringgit was seen to have a relatively muted reaction towards the greenback despite Malaysia's positive trade data for October.
Malaysia's total trade in October 2017 surged 19.8%, year-on-year, to RM154.26 billion, with exports rising 18.9% to RM82.41 billion while imports advanced 20.9% to RM71.85 billion.
The ringgit was traded mixed against a basket of major currencies.
It fell against the Singapore dollar to 3.0213/0261 from 3.0178/0205 on Tuesday and weakened against the yen to 3.6311/6365 from 3.6124/6157.
The local note, however, was traded slightly higher against the euro at 4.8155/8218 from 4.8174/8226 and gained versus the pound to 5.4513/4584 from 5.4564/4621 yesterday. — Bernama