KUALA LUMPUR: The ringgit opened flat on Thursday against the US dollar amid market concern on global economic growth as well as the fragile truce on US–Sino trade war, a dealer said.
At 9am, the ringgit stood at 4.1350/1380 against the greenback from Wednesday’s close of 4.1350/1380.
Vanguard Markets managing partner Stephen Innes explained that despite market worries on the background, investors would chase for yield following the falls of 10–year Treasury note yield.
“This would create a more friendly risk environment, will eventually boost the ringgit appeal today,” he told Bernama in an email.
The ringgit traded mixed against a basket of major currencies.
It strengthened against the Japanese yen to 3.8369/8407 from 3.8379/8411 and increased against the euro to 4.6668/6714 from 4.6672/6722.
The local currency eased against the Singapore dollar to 3.0501/0527 from 3.0499/0532 on Wednesday and weakened versus the pound to 5.2018/2064 from 5.1973/1035. — Bernama
