KUALA LUMPUR: The ringgit was lower against the US dollar early Wednesday on reduced demand for the local note amid weaker oil prices, a dealer said. At 9 am (0100 gmt), the ringgit was traded at 4.1770/1810 versus the greenback from Tuesday's close 4.1750/1800. The dealer said oil prices continued dropping on concerns over future demand amid weakening global economic growth. The ringgit also traded lower against a basket of major currencies. According to the CME Group 's FedWatch tool, the probability of a December rate hike is 69 percent, down from around 75 percent last week, a significant move in such a short period.

Source: The Star December 19, 2018 01:52 UTC