KUALA LUMPUR: A dealer stated that the ringgit opened slightly lower on lack of buying interest, weighed down by uncertainties surrounding negotiations to broker the US-China trade deal.
The ringgit was quoted at 4.1260/1300 versus the US dollar from 4.1225/1255 on Thursday.
Stephen Innes, Axi Trader Asia-Pacific market strategist said that the market was still very unsure if the US President Donald Trump would agree to suspend some of the existing tariffs on China’s goods in phases and the local currency will continue to test the 4.12 level if there is no major risk-off event or negative material shift in the US-China trade talks.
Meanwhile, the local note traded higher against other major currencies.
The ringgit rose against the Singapore dollar to 3.0365/0415 from 3.0382/0408 at yesterday’s close and perked up against the yen to 3.7753/7800 from 3.7797/7828. It appreciated against the British pound to 5.2862/2926 from 5.3036/3095 and increased versus the euro to 4.5576/5637 from 4.5661/5706.