Ringgit lower at opening

KUALA LUMPUR: The ringgit was lower at today's opening against the US dollar on continued pressure on the currency market which affected the local note, a dealer said.
At 9am, the ringgit was quoted at 4.0240/0280 versus the greenback from 4.0210/0250 recorded at Tuesday's close.
The dealer said concerns over an escalating trade row between the United States and China also pushed buying sentiment to be weaker for Asian currencies.
"While the trade conflict is expected to be for the long term, we think the ringgit will be trading on a downtrend," he added.
Meanwhile, the ringgit traded mostly lower against other major currencies, except the yen, in rising to 3.6598/6638 from 3.6634/6681.
Against the Singapore dollar, it fell to 2.9534/9581 from 2.9523/9569 and vis-a-vis the British pound, declined to 5.3229/3290 from 5.3198/3267.
The ringgit depreciated against the euro to 4.6892/6954 from 4.6881/6936. — Bernama