KUALA LUMPUR, Feb 7 (Bernama) -- The ringgit ended the week slightly lower against the US dollar, as cautious market sentiments prevailed due to uncertainties over the United States’ (US) tariff policies.
Additionally, the hotly contested move to take over Gaza has given rise to a potential escalation in the Middle East conflict, said an analyst.
At 6 pm, the ringgit eased marginally to 4.4375/4420 against the greenback from Thursday’s close of 4.4320/4385.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the prevailing market condition would continue to favour the US dollar as the US Federal Reserve seems to be not inclined to ease its monetary policy in the near term.
Meanwhile, the ringgit was traded lower against other major currencies.
It fell against the Japanese yen to 2.9217/9249 from 2.9036/9080 on Thursday, slipped against the euro to 4.6101/6148 from 4.5920/5987 yesterday, and depreciated against the British pound to 5.5278/5334 from 5.5090/5171 previously.
The local note was also weaker against ASEAN currencies.
It was lower against the Singapore dollar at 3.2866/2901 from 3.2742/2793 at the close on Thursday, and decreased against the Thai baht to 13.1853/2041 from 13.1175/1433 previously.
The ringgit also declined against the Indonesian rupiah to 272.4/272.9 from 271.2/271.7 yesterday and fell against the Philippines’ peso to 7.65/7.66 from Thursday’s close of 7.62/7.63.
-- BERNAMA
