The ringgit weakened throughout the week even though it opened positively against the US dollar at a time when it had strengthened over the past few days.
At 10.25am, the ringgit was at 4.4800 which was almost unchanged against the USD at the beginning of Friday trading.
Bank Muamalat Malaysia Bhd's Chief Economist, Dr Mohd Afzanizam Abdul Rashid said DXY remains at the forefront with the Federal Reserve (Fed) likely not to cut interest rates aggressively following economic data supporting the view that the US economy is still strong.
He further said that the chance of an interest rate cut in December is greatly reduced from 80% to below 60% given the current volatile market conditions.
With that, the ringgit will continue to experience a downward trend along with the currencies of major countries and those that are rapidly developing.
Meanwhile, the ringgit traded mostly lower against a group of major currencies.
It depreciated against the British pound to 5.6761/6856 from 5.6750/6787 at Thursday's close and eased against the euro to 4.7180/7259 from 4.7172/7203 but rose against the Japanese yen to 2.8638/2884 from 2.8720/8741 yesterday.
The ringgit also traded mixed against Asean currencies.
It rose slightly against the Philippine peso to 7.62/7.64 from 7.63/7.63 and higher against the Indonesian rupiah to 282.4/283.0 from 282.6/282.9 from Thursday's close.
The local currency also eased against the Thai baht to 12.8003/8342 from 12.7706/7838 at yesterday's close and remained virtually unchanged against the Singapore dollar at 3.3284/3344 from 3.3284/3309 previously.
