Ringgit higher against US dollar in early trade

Ringgit higher against US dollar in early trade

KUALA LUMPUR,. The ringgit opened higher against the US dollar today, dealers said.

At 9.05am, the ringgit stood at 4.1050/1100 compared to Friday’s close of 4.1225/1275.

A dealer said the greenback is under pressure as the US government remains on shutdown.

“Another reason the US dollar weakness appears to be Federal Reserve (Fed) policy expectations. Fed is planning to end the balance sheet reduction programme earlier than estimated,” he said.

Meanwhile, the ringgit was traded mostly lower against other major currencies, except against the Singapore dollar where it rose to 3.0338/0386 from 3.0346/0385 last Friday.

It fell against the Japanese yen to 3.7550/7599 from 3.7542/7598, declined against the British pound to 5.4198/4268 from 5.3935/4004 and was lower against the euro at 4.6854/6916 from 4.6704/6769 previously. — Bernama