KUALA LUMPUR: The ringgit weakened further against the US dollar today, weighed by rising US bond yields.
At 6pm, the local unit was quoted at 3.8965/8995 from 3.8950/9000 on Friday.
OANDA Head of Trading in the Asia-Pacific, Stephen Innes, said rising US bond yields buoyed the US dollar, despite higher oil prices, which usually play favourably for the ringgit.
The US 10-year Treasury yield touched a peak of 2.979 per cent, the highest since January 2014, adding to gains made last week after US Federal Reserve officials signalled further interest rate increases in 2018, following solid growth in the US economy.
The ringgit, however, ended mostly higher against a basket of other major currencies.
It rose against the Singapore dollar to 2.9452/9481 from 2.9624/9665 on Friday, and appreciated against the yen to 3.6005/6043 from 3.6172/6229 previously.
The local note strengthened against the British pound to 5.4411/4464 from 5.4779/4865 on Friday, and advanced versus the euro to 4.7658/7706 from 4.7909/7982 previously. – BERNAMA