Against a backdrop of rising oil prices, expectations of a US Federal Reserve rate hike and a possible Bank of Japan hike, markets remain anxious, says an analyst.
At 6pm, the local currency eased to 4.0605/4.0640 against the greenback from Monday’s close of 4.0440/4.0485.
Bank Muamalat Malaysia Bhd chief economist Afzanizam Abdul Rashid said elevated crude oil prices could strengthen the case for a Fed rate hike next week.
“Other Asian currencies were also mixed, with the (US) dollar-yen hovering at 153 yen as expectations of a Bank of Japan rate hike next week gathered further momentum.
“In a nutshell, market sentiment was anxious about the Fed’s next move in the near term,” he told Bernama.
At the close, the ringgit was lower against a basket of major currencies.
It slipped against the euro to 4.7151/4.7191 from Monday’s 4.6991/4.7044, weakened against the British pound to 5.4926/5.4974 from 5.4736/5.4796, and declined against the Japanese yen to 2.6374/2.6398 from 2.6173/2.6204.
The ringgit also traded lower against most regional currencies.
It inched down against the Philippine peso to 6.48/6.49 from 6.46/6.47 on Monday and declined against the Singapore dollar to 3.2073/3.2104 from 3.1943/3.1981.
It fell against the Thai baht to 12.3285/12.3447 from 12.3041/12.3231 and weakened against the Indonesian rupiah to 230.3/230.5 from 229.2/229.6 at the previous close. - FMT
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