KUALA LUMPUR: The ringgit opened lower against the US dollar in early session today as investors stayed on the sidelines for firmer policies by the government to face global economic headwinds.
At 9 am, the local note opened at 4.1670/1700 compared with 4.1620/1670 against the greenback.
A dealer said analysts had predicted that the first quarter (Q1) Gross Domestic Product (GDP) figures to be announced on Thursday would show a slowdown, with the unemployment rate reaching the highest since January 2017.
Maybank IB research in a note today said, the jobless rate in March 2019 increased marginally to 3.4 per cent after staying at 3.3 per cent for six consecutive months up to Feb 2019, despite employment growth matching labour force growth
Meanwhile, the ringgit was also traded mostly lower against other major currencies.
The local note traded lower against the Singapore dollar at 3.0440/0467 from 3.0435/0483 yesterday and depreciated against the Japanese yen to 3.8083/8120 from 3.7943/7996.
The local currency, however, inched up vis-a-vis the British pound to 5.4021/4081 from 5.4189/4263 and decreased against the euro to 4.6812/6862 from 4.6768/6837 yesterday.