Ringgit Ends Marginally Lower Against US Dollar

KUALA LUMPUR, Nov 21 (Bernama) -- The ringgit ended marginally lower against the US dollar Monday on growing concerns over the possible faster-than-expected US interest rate increase, a dealer said. At 6 pm, the local unit was traded at 4.4170/4230 against the greenback from 4.4140/4190 on Friday. A dealer said most of the Asian currencies were also lower against the greenback on expectation of US interest rate increase under President Donald Trump's economic policy. Investors were concerned over the talks that the Trump administration would adopt expansionary fiscal policies which would lead to faster-than-expected Federal Reserve interest rate increases. However, he said, some corrections, if any, may been seen around Thanksgiving later this week. The local unit was traded slightly higher against other major currencies. It was lower against the Singapore dollar to 3.0994/0041 from 3.0962/0008 on Friday and strengthened against the British pound to 5.4479/4558 from 5.4734/4813 last week. The ringgit rose against the yen to 3.9857/9930 from Friday's 3.9874/9948 and fell against the euro to 4.6957/6837 from 4.6780/6837 previously. -- BERNAMA