At 9.20am, the local currency stood at 4.1410/1430 versus the greenback compared to 4.1390/1420 at yesterday’s close. — Reuters pic
KUALA LUMPUR, July 9 ― The ringgit opened lower against the US dollar today, in line with most emerging Asian currencies, as investors shifted their attention towards the safe-haven currencies, said a dealer.
At 9.20am, the local currency stood at 4.1410/1430 versus the greenback compared to 4.1390/1420 at yesterday’s close.
The greenback according to him has continued its upward momentum from yesterday after last week’s release of a solid US job data, which lowered the investors’ expectations of a US Federal Reserve interest rate cut.
The ringgit, however, traded mostly higher against a basket of major currencies.
It rose against the Japanese yen to 3.8040/8069 from 3.8158/8189 yesterday, but weakened versus the Singapore dollar to 3.0444/0463 from 3.0436/0463 and improved against the euro to 4.6437/6476 from 4.6473/6511 previously.
The local currency also traded higher against the pound at 5.1820/1854 from 5.1882/1937. ― Bernama