Ringgit lower against US dollar on spike in US bond yields


The ringgit closed lower against the US dollar today derailed by a sudden spike in US bond yields, a dealer said.

At 6 pm, the local note ended at 3.8975/8995 against the greenback from 3.8790/8840 on Monday.

Oanda Corp Head of Trading for Asia Pacific, Stephen Innes, said the higher US ten-year yield has triggered off risk reduction on short dollar positions.