KUALA LUMPUR: The ringgit was lower against the US dollar in early trade today as higher US bond yields hampered demand for the local note.
At 9.06am, the local unit traded at 4.1270/1300 against the greenback from 4.1250/1300 at the close yesterday.
A dealer said investors were in favour of the US dollar following the 20 basis points rise in the 10-year US Treasury yields over the past four weeks.
“Furthermore, the weaker global oil price also affected market sentiment towards the ringgit as this will have an impact towards the country’s oil and gas revenue,” he added.
Brent crude futures and US West Texas Intermediate (WTI) crude futures were both down 0.4% to US$74.24 (RM307) per barrel and US$66.02 (RM273) per barrel respectively.
Meanwhile, the ringgit traded mixed against a basket of major currencies.
It declined against the Singapore dollar to 3.0406/0446 from 3.0400/0446 recorded at yesterday’s close and depreciated against the Japanese yen to 3.6881/6911 from 3.6876/6924.
The ringgit rose against the British pound to 5.3395/3450 from 5.3666/3748 and improved against the euro to 4.6293/6330 from 4.6431/6491. — Bernama
