Dealers say discussions on the US interest rate spooked investors into seeking safe havens.
KUALA LUMPUR: The ringgit retreated from last week’s gains to close marginally lower against the US dollar today, in line with other emerging currencies.
“Investors were awaiting comments from Federal Reserve chief Jerome Powell, who is scheduled to speak at a roundtable discussion later today,” said a dealer. At 6pm, the local note slipped to 4.7150/4.7195 against the greenback from Friday’s close of 4.6930/4.6970.
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