Ringgit Closes Higher Against US Dollar

KUALA LUMPUR, Nov 7 (Bernama) -- The ringgit closed stronger against the US dollar Wednesday in line with regional currencies following uncertainties over the US economic direction, dealers said. At 6 pm, the ringgit stood at 4.1640/1670 versus the greenback from Monday’s close of 4.1730/1780. A dealer said the Democratic Party’s victory in the US House of Representatives in the mid-term elections raised the prospect of a political gridlock, casting doubt over US President Donald Trump's economic agenda. “A Democratic majority in the lower chamber for the first time in eight years will restrict Trump’s ability to steer his programme through Congress,” he said. However, the local unit was mostly lower against other major currencies. The ringgit fell against the Singapore dollar to 3.0419/0445 from 3.0325/0372 on Monday, but vis-a-vis the Japanese yen, it appreciated to 3.6830/6860 from 3.6838/6885. It declined against the British pound to 5.4815/4871 from Monday’s 5.4266/4347 and weakened against the euro to 4.7844/7883 from 4.7493/7554. -- BERNAMA