Ringgit higher on shaky US equity markets

At 9.30 am(0130 gmt), the local note was quoted at 3.9100/9150 versus the greenback from 3.9170/9200 on Friday.

KUALA LUMPUR: The ringgit opened higher against the US dollar today on buying interest and amid shaky US equity markets in overnight trade.

At 9 am, the ringgit was traded at 3.8650/8680 against the US dollar from yesterday's close of 3.8755/8785.

OANDA Head of Trading Asia-Pacific, Stephen Innes said the US equity markets struggled on US protectionist rhetoric, which dampened market sentiment alongside softer oil prices.

“While we remain in this muddled landscape, the 3.87 (against the US dollar) level should hold firm until the broader US dollar negative bias takes hold,” he said in a statement today.

The ringgit also strengthened against a basket of major currencies.

The local currency was better against the Singapore dollar at 2.9524/9554 from Tuesday's 2.9613/9645 and higher against the yen at 3.6611/6643 from 3.6665/6697.

It depreciated against the British pound to 5.4790/4837 from 5.4745/4795, but strengthened versus the euro to 4.7969/8010 from 4.8110/8152. - Bernama