Ringgit opens lower as expectation of Fed rate hikes support US$

KUALA LUMPUR: The ringgit weakened against the US dollar at the opening today over markets expectations that the Federal Reserve (Fed) may raise interest rate, which would lend some support to the dollar, said an analyst.

At 9.01 am, the local currency was trading at 4.1925/1960 against the US dollar compared with 4.1815/1835 at Monday’s close.