Ringgit opens higher against US dollar

KUALA LUMPUR: The ringgit opened higher against the US dollar in early trading session today due to emerging risk appetite among traders, on the back of US-China trade optimism as well as the easing of geopolitical tensions in the Middle East.

As at 9.09am, the ringgit was at 4.0640/0680 against the US dollar from 4.0750/0780 at Friday’s close.

In a note, Public Investment Bank said the market was beaming with positivity as US-China trade discussion resumes and tension between Washington and Tehran in the Middle East deescalated which has led to anticipation of growth in the global technology industry.

According to reports, the trade deal between the US and China could be signed on Wednesday.

Meanwhile, the ringgit traded higher against a basket of major currencies, where it rose to 3.7070/7117 from 3.7160/7198 against the Japanese yen.

The local note improved to 3.0144/0183 against the Singapore dollar from 3.0194/0219 at the close on Friday, rose against the British pound to 5.2978/3035 from 5.3244/3299 and strengthened against the euro at 4.5184/5232 from 4.5216/5254.