KUALA LUMPUR: The ringgit started the week slightly lower against the US dollar today, marginally retreating from last week’s gains due to the positive outlook on the United States (US)-China trade deal, dealers said.
As at 9.08am, the local note was traded at 4.1390/1430 against the greenback compared with Friday’s close of 4.1335/1355.
A dealer noted that despite the announcement that the two economic giants have sealed a “phase one” deal, the market remained cautious as the US gave no indication of a further rollback in tariffs in the future.
Meanwhile, the ringgit was traded mostly higher against a basket of major currencies.
It rose against the British pound to 5.5280/5338 from 5.5443/5486 on Friday, and increased versus the Singapore dollar to 3.0560/0594 from 3.0566/0586 last week.
The ringgit also appreciated to 4.6042/6095 from 4.6208/6247 vis-a-vis the euro but eased against the yen to 3.7834/7881 from 3.7694/7722 previously.