Ringgit opens lower against US dollar

KUALA LUMPUR: The ringgit opened lower against the US dollar on better demand for the greenback following the US Federal Reserve's optimistic view of the giant economy.
At 9.06am, the ringgit traded at 4.2300/2330 against the US dollar from 4.2290/2320 at 6pm on Thursday.
A dealer said investors' interest shifted towards the greenback following the US central bank's comments that economic activity has been on the rise at a solid rate, despite hurricane-related disruptions, coupled with rising expectation of an interest rate hike in December.
"Taking a look at the technical picture, the dollar Index remains bullish on the daily charts," he added.
Against a basket of major currencies, the ringgit was traded mostly lower, except against the British pound, whereby it rose to 5.5227/5279 from 5.5967/6032 recorded yesterday.
Against the Singapore dollar, the ringgit fell to 3.1119/1152 from 3.1089/1115 on Thursday, declined against the yen to 3.7122/7154 from 3.7083/7113 and was lower at 4.9313/9365 from 4.9226/9273 compared with the euro yesterday. — Bernama