KUALA LUMPUR: The ringgit ended lower against the dollar yesterday after Caixin China General Services purchasing managers’ index (PMI) missed expectations by a wide margin, which weighed on local risk markets, says an analyst.

       SPI Asset Management managing partner Stephen Innes said the yuan was markedly weaker, and that was dragging the ringgit lower

       At 6pm yesterday, the local note fell to 4.6615/6655 against the greenback from Monday’s close of 4.6535/6575.

       Innes said the US dollar was also getting stronger across the board as global risk sentiment faltered, with inflation expectations rising after oil prices hit a 2023 high overnight. — Bernama