Ringgit weaker against US dollar at opening

Ringgit weaker against US dollar at opening

KUALA LUMPUR,. The ringgit opened lower versus the US dollar today as sentiment was dampened by increased US-China trade tension, dealers said.

At 9am, the ringgit weakened to 4.1420/1470 against the greenback from 4.1410/1450 yesterday.

A dealer said confirmation that US President Donald Trump had imposed tariffs on an extra US$200 billion (RM827.3 billion) of Chinese goods has encouraged further risk aversion across markets.

“The US dollar has once again strengthened on increased trade tensions yesterday while a wide basket of different emerging market currencies is once again on the back foot due to a lack of risk appetite for emerging market assets,” he said.

The ringgit, however, was traded mixed against other major currencies.

It depreciated against the Singapore dollar to 3.0214/0257 from 3.0202/0242 yesterday but strengthened against the yen to 3.6887/6938 from 3.6967/7012.

It appreciated against the euro to 5.4467/4558 from 5.4359/4428 but eased against the British pound to 4.8325/8400 from 4.8354/8414. — Bernama