Ringgit ends lower amid expectation of smaller US rate cut, sharp fall in oil price

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Ringgit ends lower amid expectation of smaller US rate cut, sharp fall in oil price
RinggitUS DollarStephen Innes
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MANCHESTER, England (Reuters) - Manchester United's most successful manager Alex Ferguson will step down as a global ambassador after the club's part-owners INEOS ended his multi-million pound contract.

KUALA LUMPUR: The ringgit depreciated against the US dollar at the close on Tuesday amid a sharp fall in the price of oil and on continued expectations of a smaller cut in US interest rates going forward.

US Federal Reserve governor Christopher Waller has urged a more cautious approach to interest rate cuts, pointing to recent economic data that highlighted the strength of the US economy and labour market, according to the latest media reports.

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