Ringgit opened slightly lower against the US dollar in the early session today on profit-taking, following the local note’s recent gains.
At 9.02 am, the ringgit was traded at 4.4290/4350 against the greenback, lower than the 4.4270/4310 recorded at the close yesterday.
However, a dealer said the ringgit would likely improve throughout the day as market sentiment towards the greenback, was fairly bearish on worries over US President Donald Trump’s protectionist stance on trade.
Meanwhile, the ringgit traded higher against a basket of major currencies.
It appreciated against the Singapore dollar to 3.1079/1138 from 3.1165/1200 on Thursday and rose against the yen to 3.8641/8696 from 3.8776/8828.
It improved against the British pound to 5.5774/5859 from 5.5917/5981 and was higher against the euro at 4.7311/7392 from 4.7462/7509. – Bernama