Malaysian Ringgit Slightly Higher Versus US Dollar

KUALA LUMPUR, July 13 (Bernama) -- The Malaysian ringgit was slightly higher against the US dollar at Friday's opening on mild buying support for the local note, a dealer said. At 9.00 am, the ringgit was quoted at 4.0375/0405 against the US dollar compared with 4.0395/0425 recorded at Thursday’s close. “This slightly higher ringgit won't last long as we expect the trade war would escalate, which will favour the greenback,” the dealer said. US President Donald Trump recently announced his decision to impose 10 per cent tariffs on an extra US$200 billion worth of Chinese imports. Against a basket of major currencies, the local note was traded higher. It rose against the Singapore dollar to 2.9620/9659 from 2.9643/9672, and strengthened against the yen to 3.5819/5855 from 3.5926/5959 on Thursday. The ringgit was higher against the euro at 4.7101/7141 from 4.7161/7212, and improved against the British pound to 5.3210/3254 from 5.3394/3438. -- BERNAMA