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Ringgit opens lower against US dollar

Mimi Sabreena 10:16:00 AM Free Malaysia Today

ringgit-dollar KUALA LUMPUR: The ringgit traded lower against the US dollar at opening today, as bullish sentiment over the US economy boosted the strength of the greenback, a dealer said.

At 9 am, the local unit was quoted at 4.0280/0330 to the greenback from 4.0200/0260 on Monday.

A dealer said comments from US Federal Reserve policy makers had bolstered hopes of another rate hike this year.

But, it may have to wait for further US domestic data, to rationalize raising the interest rate in December.

Meanwhile, the ringgit traded lower against a basket of major currencies.

It fell against the British pound to 5.2904/3002 from 5.2662/2749 yesterday, and gained against the yen to 4.0212/0282 from 3.9921/9992, while weakening against the Singapore dollar at 2.9830/9885 from 2.9747/9802.

The local note eased against the euro to 4.5617/5690 from 4.5402/5478 on Monday.

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