Kuala lumpur: The ringgit ended lower against the US dollar today as expectations of a United States (US) Federal Reserve (Fed) rate hike continued to weigh on regional market sentiment. At 6 pm, the local note depreciated to 4.0920/0965 versus the greenback from 4.0825/0870 at Tuesday's close.

According to BERNAMA News Agency, Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid noted that Asian currencies were generally weaker against the US dollar. This trend reflects investors' focus on the possibility of further monetary tightening by the Fed. He highlighted that the US Job Openings and Labor Turnover Survey (JOLTS) report revealed that the number of job openings exceeded consensus estimates in May. Dr Afzanizam also mentioned that market participants were closely watching the ADP Employment Change for June.

He stated that the expectation of a Fed rate hike has continued to support the strength of the US dollar, despite lower crude oil prices. At the close, the ringgit was mostly lower against a basket of major currencies, falling against the British pound and euro but showing a slight increase against the Japanese yen.

Additionally, the local note exhibited a mixed performance against regional currencies. It appreciated against the Thai baht and Philippine peso, while showing a slight decline against the Singapore dollar and remaining flat against the Indonesian rupiah.