Ringgit opens marginally lower against US dollar

KUALA LUMPUR: The ringgit retreated from yesterday's gains to open marginally lower versus the US dollar this morning on lack of interest for the local currency, a dealer said.
At 9.02am, the local unit was quoted at 3.9810/9840 against Thursday's close of 3.9790/9820
Oanda Head of Trading in Asia-Pacific Stephen Innes said the ringgit continued to be clouded by near-term political risk.
"And, with fiscal uncertainty continuing to linger, it's unlikely we will see much in the way of foreign participation or any meaningful flow ( of funds) over the short-term for that matter." he said in a note today.
Meanwhile, the local unit was mixed against a basket of currencies.
The yen fell to 3.6336/6367 from 3.6265/6299 on Thursday and eased against the Singapore dollar to 2.9689/9729 versus 2.9656/9685 yesterday.
The local unit appreciated against the British pound to 5.3210/3266 from 5.3287/3339 and was slightly higher against the euro at 4.6637/6677 from 4.6666/6709 on Thursday. — Bernama