Ringgit trade lower against US dollar in early session

 Publish date: Tue, 9 Jul 2019, 10:09 AM

KUALA LUMPUR: The ringgit opened lower against the US dollar today, in line with most emerging Asian currencies, as investors shifted their attention towards the safe-haven currencies, said a dealer.
At 9.20 am, the local currency stood at 4.1410/1430 versus the greenback compared to 4.1390/1420 at yesterday’s close.
The greenback according to him has continued its upward momentum from Monday after last week’s release of a solid US job data, which lowered the investors’ expectations of a US Federal Reserve interest rate cut.
The ringgit, however, traded mostly higher against a basket of major currencies.
It rose against the Japanese yen to 3.8040/8069 from 3.8158/8189 on Monday, but weakened versus the Singapore dollar to 3.0444/0463 from 3.0436/0463 and improved against the euro to 4.6437/6476 from 4.6473/6511 previously.
The local currency also traded higher against the pound at 5.1820/1854 from 5.1882/1937.
 - Bernama


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