Ringgit opens flat against US dollar

KUALA LUMPUR: The ringgit opened flat against the US dollar amidst the imminent “phase one” trade deal between the United States and China.

The ringgit was at 4.0880/0920 versus the US dollar compared with yesterday’s close of 4.0880/0930.

AxiTrader chief Asia market strategist Stephen Innes said if the positive progress of the trade talks and global risk sentiment can be sustained, the ringgit could be on a favourable course to touch the 4.050 level against the greenback.

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

It fell against the Singapore dollar to 3.0349/0390 from yesterday’s 3.0329/0375 and slipped against the Japanese yen to 3.7691/7739 from 3.7529/7582.

The local note, however, rose against the British pound to 5.3778/3834 from 5.3971/4058 and increased against the euro to 4.5683/5732 from 4.5760/5824.