Kuala Lumpur: The ringgit ended lower against the US dollar on Tuesday as cautious traders took profit after recent gains amid continued uncertainty in the global economic outlook. At 6 pm, the local note fell to 4.2345/2430 versus the US dollar from Monday's close of 4.2155/2220.

According to BERNAMA News Agency, Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid noted that traders might have capitalized on their gains in the currency markets following the recent steep rise of emerging currencies. He emphasized that the global macroeconomic situation remains largely unchanged, with business and consumer sentiments still cautious. Other emerging market currencies also depreciated against the American dollar as the US Dollar Index (DXY) increased to 99.018 points.

Dr Mohd Afzanizam highlighted that the US Conference Board is set to release its latest consumer confidence index survey for May. April's data showed a persistent fall to 86 points, marking the fifth consecutive month of decline since December last year. There is a consensus expectation for a slight improvement to 87.1 points. Lower gasoline prices might have provided temporary support to consumers in May, though such support is anticipated to be fleeting.

The ringgit traded mostly lower against a basket of major currencies at the close. It rose against the Japanese yen to 2.9425/9486 from Monday's close of 2.9506/9553 but fell against the euro to 4.8053/8150 from 4.7972/8046 and depreciated against the British pound to 5.7352/7467 from 5.7175/7263.

The local note also traded lower against its ASEAN peers. It dropped against the Singapore dollar to 3.2894/2963 from 3.2826/2879 on Monday and inched lower against the Thai baht to 12.9365/9676 from 12.9231/9466. The ringgit edged lower against the Philippine peso to 7.62/7.64 from 7.60/7.62 and weakened versus the Indonesian rupiah to 259.9/260.6 from 259.4/259.9.