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July 6: Ringgit slips against major currencies

KUALA LUMPUR: The ringgit ended lower against the US dollar today as investors remained cautious and shifted focus towards safe-haven assets after the US Federal Reserve's recent policy meeting minutes showed no indication on the next interest rate increase.

At 6pm, the local unit was quoted at 4.2970/3000 against the greenback from Wednesday's close of 4.2950/2990.

A dealer said investors' risk appetite has also been reduced as they are sandwiched between a series of uncertainties, including Friday's US payroll data and the escalation in geopolitical tensions between the US and North Korea.

"These factors have curbed their appetite, making them look for safe-haven investments," he said.

At the close, the local note was traded lower against other major currencies. It depreciated against the Singapore dollar to 3.1048/1081 from 3.1042/1082 on Wednesday, and fell against the British pound to 5.5702/5762 from 5.5466/5522 yesterday. The ringgit eased against the yen to 3.7879/7912 from 3.7801/7843 yesterday, and shed against the euro to 4.8827/8870 from 4.8632/8686 previously. -- BERNAMA

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