Ringgit ends lower against US dollar as market sentiment remains weak

KUALA LUMPUR (Feb 21): The ringgit retreated from Monday’s (Feb 20) gains to close lower with market sentiment remaining weak on lingering concerns over the US Federal Reserve’s (Fed) decision on interest rates, analysts said.

At 6pm, the local note fell to 4.4310/4345 versus the greenback from Monday’s close of 4.4280/4325.

SPI Asset Management managing director Stephen Innes said local traders have taken to the sidelines to await more details on the Fed’s reaction to a series of stronger-than-expected US economic data.