Ringgit lower against US$ in early trade Tuesday Aug.30

UOB said said the Malaysian currency would likely average at 4.25 per US dollar by mid-2016 before strengthening to 4.10 by the end of the year. The estimates were based on the revision in its US Federal Reserve rate outlook with fewer hikes this year and recent ringgit strength. The ringgit gained 0.55% to close at 4.1975 against the US dollar yesterday

KUALA LUMPUR: The ringgit opened lower against the US dollar Tuesday on a lack of catalysts, said a dealer. 

At 9.45 am(0145 Malaysian time), the ringgit was quoted at 4.0460/0510 against the greenback from 4.0430/0480 on Monday.