18 minutes
KUALA LUMPUR: The ringgit was slightly lower against the US dollar in early trade dragged by lower oil prices, said a dealer.
At 9am, the ringgit was quoted at 4.0880/0950 compared to Monday’s close of 4.0830/0880.
He said oil prices fell today, amid signs of concerns on another round of trade talks between the United States and China.
“Investors are now adopting a wait-and-see attitude ahead of the upcoming trade talks between the US and China in Washington this week,” he said.
It was reported that trade talks between the US and China last week in Beijing went smoothly and the investors hoped that both sides could reach an agreement before March 1 deadline.
At press time, benchmark Brent crude stood at US$66.40 per barrel.
Overall, the ringgit traded lower against other major currencies.
It fell against the Singapore dollar to 3.0121/0177 from 3.0100/0145 yesterday, weakened against the British pound to 5.2784/2895 from 5.2724/2797.
The local note also declined against the euro to 4.6211/6294 from 4.6195/6264 and depreciated against Japanese yen rose to 3.6969/7045 from 3.6934/6982 previously. — Bernama
