Ringgit opens lower on cautious demand

KUALA LUMPUR: The ringgit opened slightly lower against the US dollar today on cautious demand for the local currency, an analyst said.

Axi chief global market strategist Stephen Innes said, however, there seems to be a more optimistic tone, perhaps due to investors heaving a sigh of relief as Hong Kong has lifted a lockdown while assuaging some fears of China stepping back into the COVID-19 lockdown abyss despite increasing mobility restriction measures ahead of the Chinese New Year.