Weak market sentiment sees ringgit end lower

KUALA LUMPUR, March 14 — The ringgit reversed yesterday gains to close lower against the US dollar today, dampened by negative sentiment emanated from the replacement of the US Secretary of State, causing the greenback instability, dealers said.

At 6pm, the local note was quoted at 3.9040/9080 against the US dollar compared with yesterday’s 3.8950/9010.

“The greenback was under pressured following the sudden dismissal of US Secretary of State Rex Tillerson, fanning worries among investors.

“Concerns over (US President Donald) Trump administration has killed risk appetite globally,” a dealer said.

Meanwhile, against other major currencies, the ringgit was also traded lower.

It fell against the Singapore dollar to 2.9786/9830 from 2.9645/9692 on Tuesday and weakened versus the yen to 3.6630/6674 from 3.6348/6410.

The local note also depreciated against the euro to 4.8273/8334 from yesterday's 4.8021/8099 and decreased vis-a-vis the British pound to 5.4453/4524 from 5.4063/4161. — Bernama