Ringgit opens lower against US dollar

KUALA LUMPUR: The ringgit opened lower against the US dollar today, as more investors shifted towards safe-haven currencies, due to an expectation that the US Federal Reserve would raise rates four times this year rather than three, dealers said.
At 9.15 am, the local note was quoted at 3.9255/9285 versus the greenback from Wednesday's 3.9150/9190.
The ringgit, meanwhile, traded mostly lower against a basket of major currencies.
It depreciated against the Singapore dollar to 2.9593/9622 from Wednesday's 2.9583/9624, but rose against the British pound to 5.3968/4031 from 5.4383/4462.
It went down against the euro to 4.7840/7881 from 4.7837/7898 and weakened against the yen to 3.6780/6818 from 3.6551/6606. — Bernama