KUALA LUMPUR: The ringgit opened lower against the US dollar today, as the greenback and bond yields rebounded on strong US payrolls data released on last Friday.

At 9.00 am, the ringgit stood at 3.8935/8965 against the greenback from Friday’s close of 3.8850/8880.

A  dealer said the ringgit appeared slightly bearish, largely driven by the greenback’s movement coupled with lower oil prices, as traders weighed a steady increase in US output against the Organisation of the Petroleum Exporting Countries ongoing efforts at draining the market of excess supply.

Meanwhile, the ringgit traded higher against a basket of major currencies, except the Japanese yen.

It improved against the Singapore dollar to 2.9498/9532 from 2.9575/9618 and strengthened against the euro to 4.8490/8543 from Friday’s close of 4.8508/8553 The ringgit rose against the British pound at 5.4968/5030 from 5.5229/5283, but depreciated against the yen to 3.5431/5468 from 3.5354/5387. – Bernama


Business, TextNews

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