KUALA LUMPUR: The ringgit retreated from yesterday’s gains to trade slightly lower against the US dollar in the early session today, as heightened tension between the United States and China prompted investors to return to safe-haven currencies, dealers said.
As at 9.01 am today, the local note was quoted at 4.3500/3550 compared with yesterday's close of 4.3400/3480.
Meanwhile, a dealer said the Price Manufacturing Index (PMI) reports across the globe reinforced early signs of a global recovery of which it should be no surprise considering that a complete economic shutdown in April and any recovery in May will be significant.