Ringgit opens lower against most major currencies

: The ringgit opened slightly lower against the today on subdued demand ahead of the release of US data today.

At 9.06am, the local unit stood at 4.2920/2970 against the greenback, compared with Thursday’s close of 4.2870/2910.

The local note’s decline today is in line with other Asian emerging currencies, which are weighed down by US-North Korea geopolitical tensions.

“However, the US dollar remains steady against major currencies, as traders are focusing on US inflation data due Friday, given its possible impact on the Federal Reserve’s monetary policy for further market direction,” a dealer said.

Against other currencies, the local note was mostly lower.

It eased against the dollar to 3.1503/1545 from 3.1455/1496 yesterday, and depreciated versus the yen to 3.9354/9408 from 3.9040/9087 on Thursday. It decreased against the euro to 5.0525/0597 from 5.0321/0385 yesterday, but rose to 5.5719/5797 from 5.5765/5834 on Thursday against the British pound.


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