At 9.05am, the local currency slid to 4.5270/4.5305 against the greenback from 4.5265/4.5285 at yesterday’s close.

Dealers cited the bullish producer price index (PPI) as the driving force behind the dollar’s rise today.

ActivTrades trader Dyogenes Rodrigues Diniz said the US PPI data recorded a higher-than-expected reading of 7.3% versus the 7.1% forecast.

“From the technical point of view, the last time the US dollar hit an all-time high against the ringgit was in November 2016, when it reached 4.5380. This is where the dollar should encounter a temporary resistance,” he said.

The ringgit was traded higher against a basket of major currencies, except for the Japanese yen, against which it eased to 3.1622/3.1649 from 3.1616/3.1635.

The local unit rose against the Singapore dollar to 3.2193/3.2223 from 3.2252/3.2268 yesterday, increased against the British pound at 5.2178/5.2219 from 5.2331/5.2354 yesterday and gained against the euro to 4.5143/4.5178 from 4.5306/4.5326 previously.