KUALA LUMPUR (April 23): The ringgit opened slightly lower against the US dollar this morning amid mixed indicators of a stronger greenback, lower US Treasury yields and stabilising oil prices, a dealer said.
At 9am, the local unit stood at 4.1130/1170 versus the greenback from yesterday’s close at 4.1105/1145.
Axi chief global market strategist Stephen Innes said the stronger dollar had negatively influenced the sentiment for the local currency, but a further decline was offset by lower Treasury yields and better oil prices.
“Additionally, the foreign exchange market seems to be moving past Covid-19 worries as even Indian Rupee has rallied,” he added.
At the opening bell, the ringgit was traded mostly higher against other major currencies.
It rose against the Singapore dollar to 3.0929/0967 from 3.0948/0980 yesterday, and strengthened against the euro to 4.9422/9486 from 4.9490/9555.
The ringgit appreciated against the British pound to 5.6936/6996 from 5.7152/7212, but fell versus the yen to 3.8119/8166 from 3.8036/8076.
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