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 reversed yesterday's gains against the US dollar at the opening, pending an election announcement coupled with the United States and China trade war rhetoric framing regional risk sentiment.
At 9 am, the local unit was firmer against the greenback at 3.8650/8680 from yesterday's closing of 3.8650/8680.
OANDA Head of Trading Asia-Pacific Stephen Innes said the downtrend seen on the local unit's performance was also due to the foreign inflows, which were expected to fall to a trickle as the general election neared with investors probably trading only the edges of the current ringgit ranges.
“Not to mention the US non-farm payroll (NFP) that will be released today.
“So, the combination of negative trade war headlines ahead of the NFP should see the US dollar and ringgit track towards to the top of the last 24 hour ranges,” he told Bernama.
The ringgit appreciated against the Singapore dollar at 2.9357/9406 from 2.9407/9437 yesterday, firmer against the yen at 3.6070/6127 from 3.6101/6133 and strengthened versus the euro to 4.7343.7420 compared with 4.7439/7491.
Against the British pound, the local unit rose to 5.4143/4233 from 5.4346/4407. - Bernama
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