KUALA LUMPUR: The ringgit opened slightly lower against the US dollar in early session on lack of fresh leads.
At 9am, the ringgit stood at 4.1470/1500 against the greenback from yesterday’s close of 4.1440/4470.
A dealer said low demand has dragged down the local note as emerging markets continued to face a slowdown in economic growth.
“Overall global market sentiment is still sluggish amid higher crude oil prices,” he said.
At the time of writing, prices of benchmark Brent crude was 1.20% higher at US$65.05 per barrel.
Meanwhile, the dollar continues to slip against most major currencies after the US Federal Reserve’s signalled it would not cut interest rate anytime soon, amid pressure to do so from US President Donald Trump.
The ringgit was mostly higher against a basket of major currencies at the opening.
It traded marginally higher against the Japanese yen to 3.8616/8655 from 3.8693/8724 and strengthened versus the British pound to 5.2592/2647 from 5.2857/2903.
The local note rose against the euro to 4.7102/7152 from 4.7146/7196 but slipped against the Singapore dollar to 3.0605/0639 from Tuesday’s 3.0603/0637. - Bernama
