Ringgit opens lower against US dollar as weak consumer data weighs on sentiment

The ringgit opened lower against major currencies, including the US dollar, on Wednesday as weaker US consumer data weighed on investor sentiment and reduced risk appetite in the foreign exchange market. The Conference Board’s Confidence Index fell to an 81.9-point low since April 2014, with most Americans citing high costs of goods and services and oil and gas prices as contributing to their pessimism.

Additionally, the Job Openings and Labour Turnover Survey (JOLTS) was lower than expected in August. Despite this, the US Dollar Index was up 0.17 percent, and US Federal Reserve officials remain hawkish on monetary policy. The ringgit also traded lower against a basket of major currencies and Asean currencies.

Brief written by urgent.news from Malay Mail's own syndicated text. Machine-written — may contain errors; check the original before relying on it.