Ringgit opens lower on mild profit taking

KUALA LUMPUR: The ringgit retreated from yesterday's gains to open marginally lower against the US dollar today on mild profit taking, dealers said.
At 9.05am, the local note was quoted at 4.3290/3350 against the greenback from 4.3170/3210 at 6pm yesterday.
A dealer said that the greenback recovered some lost ground after the US Federal Reserve hinted at the possibility on another interest rate hike in June.
Against other major currencies, the ringgit was traded mixed.
It weakened against the Singapore dollar to 3.0959/1009 from 3.0922/0970 but was higher against the Japanese yen at 3.8344/8410 from 3.8473/8518 yesterday.
The ringgit improved against the British pound to 5.5714/5800 from 5.5728/5788 but depreciated against the euro to 4.7121/7191 from 4.7094/7142 on Wednesday. — Bernama