Ringgit opens lower against US dollar

KUALA LUMPUR,. The ringgit declined against the US dollar on Thursday morning as investors anticipate the resumptions of a trade war between the US and China, a dealer said.

At 9am, the ringgit was at 4.1620/1650 against the greenback from 4.1550/1600 at yesterday’s close.

President Donald Trump reportedly told the media that he has no specific date for a restart in US-China trade talks.

“I have no deadline. My deadline is what’s up here,” while pointing to his head during a news conference Wednesday at the White House.

At the opening, the ringgit, however, traded higher against a basket of major currencies.

It depreciated against the Singapore dollar to 3.0448/0475 from 3.0446/0492 at last Wednesday’s close, appreciated versus the yen to 3.8352/8391 from 3.8376/8426 and strengthened against the euro to 4.6972/7027 from 4.7064/7137.

Vis-a-vis the pound, the local unit was better at 5.2820/2862 to 5.2922/2003 at last Wednesday’s close. — Bernama