KUALA LUMPUR,. The ringgit opened unchanged against the US dollar from yesterday’s close, with investors remaining in a cautious mood, despite the United States (US) and China agreeing to pause their trade war.
At 9am, the ringgit was traded at 4.1630/1680.
A dealer said although US President Donald Trump and his Chinese counterpart Xi Jinping had agreed to pause new tariffs expected to be imposed in in January next year, investors still took a wait-and-see approach on the riskier emerging market currencies like the ringgit.
“The long-term outcome of the meeting remains uncertain, some investors were doubtful if the ‘agreement’ between the two leaders could be ‘U-turn’ due to some tweets or newspaper headlines,” he said.
However, the ringgit traded higher against other major currencies.
It ticked up against the Singapore dollar to 3.0427/0486 from 3.0474/0515 on Monday, improved against the yen to 3.6653/6706 from 3.6695/6748, and appreciated against the euro at 4.7258/7328 from 4.7312/7373.
The ringgit also advanced versus the pound to 5.2958/3025 from 5.3195/3275. — Bernama