Ringgit opens lower against US dollar

ringgit-dollarKUALA LUMPUR: The ringgit opened lower against a rejuvenated US dollar in early trade this morning, dealers said.

At 9 am, the local unit stood at 4.2860/2900 against the greenback compared with Tuesday’s close of 4.2840/2870.

A dealer said the greenback rose as investors started positioning for key market events this week, notably Friday’s US employment report.

“Domestically, players may want to check out June’s external trade statistics, also due to be released on Friday,” he said.

Against other currencies, the local note was, however, higher, except versus the euro.

The local unit rose against the Singapore dollar to 3.1533/1577 from 3.1556/1592 on Tuesday and strengthened marginally against the yen to 3.8812/8859 from 3.8815/8853.

The ringgit firmed against the British pound to 5.6635/6692 from 5.6647/6700 on Tuesday but weakened against the euro to 5.0631/0682 from Tuesday’s 5.0607/0655.