KUALA LUMPUR, Oct 17 — The ringgit ended higher today following renewed optimism in the foreign exchange market after the United Kingdom and the European Union have agreed on a new Brexit deal, said a dealer.
At 6pm, the ringgit was quoted at 4.1780/1830 against the greenback, compared with 4.1935/1965 at yesterday’s close.
Oanda senior market analyst, Craig Erlam said the pound soared to a seven-month high against the dollar following confirmation of the agreement before profit-taking kicked in.
“That coincided with the confirmation from the Democratic Unionist Party that their position hasn’t changed, which suggests they won’t support the deal on Saturday, making the parliamentary arithmetic on Saturday even tighter,” he said.
The ringgit was traded mostly lower against a basket of other major currencies.
It weakened against the Singapore dollar to 3.0610/0658 from 3.0560/0585 at Wednesday’s close and declined against the British pound to 5.4005/4086 from 5.3513/3568 yesterday.
The ringgit slightly strengthened vis-a-vis the yen to 3.8415/8471 from 3.8575/8613 but fell against the euro to 4.6443/6507 from 4.6288/6338 at Wednesday’s close. — Bernama