Ringgit at 4.21 against USD

Posted by Trading Advisor on 2:35 PM with No comments
KUALA LUMPUR: The ringgit opened higher in early trade against the US dollar today on mild demand for the local note.
At 9am, the ringgit was quoted at 4.2150/2200 against the greenback from 4.2250/2310 on Thursday.

A dealer, said, local sentiment had improved with the ongoing positive progress on the 1MDB issue. On the global front, the dealer said investors are still cautious over the US dollar which fell in overnight trade, and ahead of crucial US jobs data to be released tonight.

They are also concerned over the hawkish comments by US Federal Reserve Chair, Janet Yellen, that keeping interest rates at zero for too long would create a risk to the financial stability of the US economy. The ringgit, meanwhile, traded mixed against other major currencies.