Malaysian Ringgit Ends Higher Against US Dollar

KUALA LUMPUR, Jan 20 (Bernama) -- The Malaysian ringgit rebounded to end slightly higher against the US dollar on Friday in line with most emerging Asian currencies on the back of a softer greenback overnight. At 6 pm, the local unit was traded at 4.4450/4480 against the US dollar from Thursday's 4.4470/4510. A dealer said the greenback lost its grip following a less hawkish comments from Federal Reserve (Fed) chair Janet Yellen on Thursday. Yellen commented that the US monetary policy is still accommodative and would continue to raise interest rates slowly as not to harm the recovery the Fed has sought to nurture. "Sentiment are also cautious today, ahead of Donald Trump's inauguration as US president later today (Friday)," said the dealer. The ringgit was traded higher against a basket of major currencies. It appreciated against the Singapore dollar to 3.1112/1135 from 3.1172/1211, and rose against the euro to 4.7321/7358 from 4.7396/7457 on Thursday. The ringgit improved against the Japanese yen to 3.8619/8648 from 3.8818/8856 and gained versus the British pound to 5.4625/4679 from 5.4734/4787 on Thursday. --BERNAMA