Ringgit down against US dollar in early trade

Ringgit down against US dollar in early trade

KUALA LUMPUR: The ringgit opened almost flat against the US dollar today on lack of fresh buying interest, said a dealer.

At 9.10am, the local note was at 4.1950/1990 against the greenback from yesterday’s close of 4.1955/1985.

Axi Trader Asia-Pacific market strategist Stephen Innes said the market is back on the yuan watch as local traders lowered their expectations ahead of resumptions of the US-China trade talks this week.

“However, the ringgit’s psychologically important 4.20 level is coming back into focus if the yuan tumult holds,” he said.

At the opening, the ringgit traded higher against other major currencies.

It rose against the Singapore dollar to 3.0366/0397 from 3.0404/0437 and advanced against the Japanese yen to 3.9078/9126 from 3.9082/9114 yesterday.

Vis-a-vis the euro, the local unit strengthened to 4.6061/6109 from 4.6067/6116 while against the British pound, it improved to 5.1221/1274 from 5.1311/1364 yesterday.


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