Ringgit rebounds to open higher against US dollar

KUALA LUMPUR: The ringgit rebounded after two days of losses to open higher against the US dollar this morning, in tandem with most emerging currencies, on renewed demand as the outlook for the greenback remained bearish, a dealer said. 
At 9.05am, the local unit was quoted at 4.2900/2930 against the greenback from yesterday's 4.2970/2000.
The US dollar retreated on Thursday on renewed concerns that the US Federal Reserve may delay increasing interest rates after the recent softness in the inflation rate.
However, the ringgit was mostly lower against other major currencies.
It weakened against the Singapore dollar to 3.1475/1508 from 3.1420/1447 on Wednesday and depreciated versus the yen to 3.9043/9073 from 3.8761/8795 yesterday.
The local unit also decreased versus the euro to 5.0485/0533 from 5.0369/0422 but strengthened against the British pound to 5.5268/5345 from 5.5358/5410 on Wednesday. — Bernama