Wednesday, 21 February 2018 | MYT 10:08 AM
Ringgit lower against US$ on negative global sentiments
KUALA LUMPUR: The ringgit opened lower against the US dollar early Wednesday as investors turned risk averse to riskier currency and amid negative global equity sentiment.
At 9.00 am(0100gmt), the ringgit stood at 3.9060/9090 against the greenback from Tuesday's close of 3.9020/9060.
OANDA Corp Head of Trading for Asia Pacific, Stephen Innes said riskier currencies were trading on a poor footing, given the firmer dollar and negative global equity sentiment.
“And of course, we cannot overlook higher US yields which are driving opinions this week. This package of coincidences does not make a very conducive environment for regional risk,” he said.
Against a basket of major currencies, the ringgit traded mostly lower.
It fell against the Singapore dollar to 2.9609/9634 from 2.9574/9616 on Tuesday, but strengthened against the Japanese yen to 3.6315/6346 from Tuesday's 3.6399/6447.
The ringgit depreciated versus the British pound to 5.4668/4722 from 5.4632/4707 and eased vis-a-vis the euro to 4.8181/8229 from 4.8158/8223.- Bernama