Ringgit Ends Higher Against US Dollar

KUALA LUMPUR, July 12 (Bernama) -- The ringgit closed higher against the US dollar Wednesday, amid unsettled political turbulence in the United States (US) and ahead of Federal Reserve Chair, Janet Yellen's congressional testimony. At 6 pm, the local note stood at 4.2920/2950 against the greenback compared with Tuesday's close of 4.2960/2990. "The greenback retreated as investors await more clues and facts on Yellen's semi-annual testimony before the US Congress this week. "Market also reacted to the latest revelation on the emails released during the US election campaign and whether it was considered as violating the US election law," a dealer said. The ringgit was however traded mostly lower against other major currencies. It slipped against the Singapore dollar to 3.1061/1092 from 3.1057/1062 on Tuesday and eased against the yen to 3.7835/7865 from 3.7572/7612 Tuesday. The local note declined against the euro to 4.9178/9216 from 4.8944/8937 Tuesday, however, it strengthened against the pound to 5.5165/5208 from 5.5423/5479 on Tuesday. -- BERNAMA