KUALA LUMPUR: The ringgit closed lower against the US dollar on Friday, weighed down by a broad risk-off sentiment across global markets amid renewed selling pressure in the semiconductor sector.
At 6pm, the local currency slipped to 4.0565/4.0610 versus the greenback from yesterday's close of 4.0445/4.0490.
SPI Asset Management managing partner Stephen Innes said the ringgit faced pressure as investors turned cautious amid heightened uncertainty in global markets.
“We are also seeing some safe-haven demand for the US dollar against other major currencies such as the euro and Australian dollar, which is spilling over into Asian currencies,” he told Bernama.
