Ringgit moderately lower against US dollar
KUALA LUMPUR: The ringgit was moderately lower against the US dollar at Thursday’s opening on lack of demand despite yesterday’s decision by the US Federal Reserve to cut interest rate.
At 9 am, the ringgit eased to 4.1905/1945 versus the greenback from 4.1820/1860 at Wednesday’s close.
A dealer said the Fed’s move to slash its rate by a quarter was widely anticipated. It was it’s second cut in the year.
“Overall, the global market continues to be a lack of catalysts with market players keeping their eyes open on the US-China trade talks which will commence today,” he said.
Meanwhile, against a basket of other major currencies, the ringgit traded mostly lower except to the euro, which increased to 4.6192/6253 from 4.6199/6259.
It fell versus the yen to 3.8690/8738 from 3.8640/8688, depreciated against the British pound to 5.2235/2301 from 5.2116/2174 but remained unchanged at yesterday’s 3.0423/0463 versus the Singapore dollar.
