Ringgit opens flat against US dollar

KUALA LUMPUR: The ringgit opened flat against the US dollar today as investors stayed cautious ahead of Bank Negara Malaysia’s monetary policy decision tomorrow, said a dealer.

At 9am, the ringgit remained at 4.1700/1750 against the US dollar from 4.1700/1730 recorded on Tuesday.

Axi Trader Asia-Pacific market strategist Stephen Innes said demand for the greenback has reduced as investors’ appetite for the Chinese yuan and other riskier assets including Asean currencies gain traction due to the calming effect of the US-China trade negotiation.

Meanwhile, against other major currencies, the ringgit was traded mixed.

It marginally rose against the Singapore dollar to 3.0211/0258 from 3.0224/0254 on Tuesday but weakened versus the British pound to 5.1500/1565 from 5.1387/1432.

The ringgit improved against the Japanese yen to 3.8747/8805 from 3.8852/8891 but slightly eased vis-a-vis the euro to 4.6066/6125 from 4.6062/6099.