KUALA LUMPUR: Investors’ concern on US trade war reprisal has weighed on the foreign currency market, resulted in the ringgit to open lower this morning, extending its bearish performance since last week.
At 9.02am, the ringgit stood at 4.1870/1900 from Monday’s closing of 4.1770/1800.
VM Markets Pte Ltd managing partner Stephen Innes said the worries on the trade war as well as lower oil prices make the ringgit to be less attractive.
Overall, the ringgit was also traded lower against a basket of major currencies.
It rose against the Singapore dollar to 3.0222/0255 from 3.0231/0264 but weakened against the yen to 3.9504/9543 from 3.9343/9389.
Vis-a-vis the pound, the local unit fell further to 5.0893/0938 from 5.0684/0741 and depreciated against the euro to 4.7054/7091 from 4.6561/6611. - Bernama
source https://www.thesundaily.my/business/ringgit-opens-lower-for-second-consecutive-days-YI1219735
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