Ringgit opens marginally lower against US dollar amid mixed global cues
KUALA LUMPUR: The ringgit opened marginally lower against the US dollar on Wednesday, with the local note still trading within a narrow trading range amid mixed global market cues.
The ringgit opened marginally lower against the US dollar on Wednesday, as it remained within a narrow trading range amid mixed global market cues. The local note slipped to 4.0840/0885 against the US dollar from Tuesday's close of 4.0835/0880. Dr Mohd Afzanizam Abdul Rashid, the chief economist at Bank Muamalat Malaysia Bhd, attributed the decline to the 0.33 per cent drop in the US Dollar Index (DXY) to 101.833 points, along with Brent crude prices hovering around US$100 per barrel.
Additionally, positive global equities sentiment due to optimism over corporate earnings contributed to providing support for the ringgit. The currency also traded mostly lower against major currencies like the British pound and euro, while strengthening against the Japanese yen.
Brief written by urgent.news from New Straits Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
