Wednesday’s inventory report showed growing demand and a substantial drop in fuel stockpiles that offset a large crude build.
The currency was exposed to external factors, especially the trade policy talks that would take place between the United States and China at the G20 summit today in Buenos Aires.
In a note today, Maybank Investment Bank Bhd (Maybank IB) said the negative performance on the local bourse was also due to an overnight sell-off on US markets.
At 9am, the local currency stood at 4.1380/1420 against 4.1390/1430 recorded at 6pm yesterday.
The ringgit meanwhile traded mostly higher versus other major currencies.
The ringgit however traded mostly higher versus other major currencies.
At 9am, the ringgit stood at 4.1350/1390 against the greenback from 4.1415/1445 on Wednesday.
The ringgit also traded mostly lower against other major currencies.
Given the uncertainty, the money manager is keeping a net neutral dollar position, while making trades including shorting the Philippine peso, as well as betting the Aussie will decline against the New Zealand dollar.
The dollar has seen a surge in safe-haven demand from an escalation of global trade tensions involving the United States, China, Canada and the European Union
Investors are looking forward to a positive August Consumer Price Index announcement.
The market was closed on Monday and Tuesday in conjunction with King’s birthday and Awal Muharram.
KUALA LUMPUR: The ringgit opened slightly higher against the US dollar today on better demand for the local note as news on higher global...
A dealer says demand for the greenback eased amid the lack of new catalysts.
Against other major currencies, the ringgit traded mixed.
Trump had accused China, the European Union and others of manipulating their currencies and interest rates, positioning the greenback at a disadvantage.
At 9am, the ringgit stood at 4.2935/2965 against the greenback from 4.2920/2950 on Thursday.
The local note was traded at 4.4320/4370 against the US dollar, compared with 4.4280/4310 recorded on Tuesday.
The local unit is traded at 4.4260/4310 against the US dollar, compared with 4.4370/4400 at the close yesterday.
The local unit was quoted at 4.4760/4820 versus the greenback compared with 4.4710/4740 last Friday.
The local unit was quoted at 4.4870/4900 against the greenback compared with 4.4960/4990 on Wednesday.
The local note was quoted at 4.4930/4980 against the greenback compared with 4.4900/4950 on Tuesday.
The local unit traded at 4.4750/4800 against the greenback from Thursday's close of 4.4740/4770.
The local unit was quoted at 4.4770/4820 against the greenback.