KUALA LUMPUR: The ringgit was slightly higher against the US dollar this morning on better demand for the local note.
At 9.18 am, the local note stood at 4.1800/1840 against the greenback from 4.1830/1880 at yesterday’s close.
A dealer said investors’ focus shifted towards the local note and the US dollar showed signs of slowing down, with data on US consumer prices unchanged for November.
“This weaker-than-expected data supports the view that underlying inflation remained firm, but not enough to push the Federal Reserve to take a more aggressive stance, thus reducing expectations for the number of US interest rate hikes next year,” he added.
Meanwhile, the ringgit traded mostly lower against other major currencies, except against the Singapore dollar, where it was nearly unchanged at 3.0462/0493 from 3.0462/0509 yesterday.
The ringgit declined against the yen at 3.6861/6906 from 3.6858/6912, it decreased against the pound to 5.2747/2815 from 5.2434/2501 and depreciated against the euro at 4.7514/7580 from 4.7398/7471. — Bernama
