Ringgit opens easier against US dollar

ringgit-dollarKUALA LUMPUR: The ringgit eased at the opening against the US Dollar today as the positive sentiment spillover from the French presidential election was shortlived, as traders took on a profit taking stance post election, said dealers.

At 9.03 am, the local note was quoted at 4.3390/3420 against the greenback from 4.3350/3380 on Monday.

A dealer said the greenback, stood strong on increased expectation of the Federal Reserve raising US rates.

Meanwhile, dealers said the local note remained buoyed as further decline was capped by the increase in crude oil prices today.

West Texas Intermediate Crude Oil rose 0.41% to US$46.62 per barrel and Brent Crude improved 0.39% to US$49.53.

The ringgit was however, traded higher against most major currencies.

It rose against the Singapore dollar to 3.0852/0875 from 3.0856/0886 and was higher against the Japanese yen at 3.8290/8326 from 3.8523/8560 on Monday.

The ringgit improved against the British pound to 5.6186/6242 from 5.6208/6264 and gained against the euro to 4.7404/7454 from 4.7412/7462 previously.