Ringgit Falls Against US Dollar In Early Session

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KUALA LUMPUR, Aug 10 (Bernama) -- The ringgit was lower against the US dollar in the early session Friday on weaker demand for the local note as investors adopted a guarded approach towards riskier assets.

At 9.05 am, the local unit stood at 4.0770/0800 against the greenback from 4.0740/0770 recorded at the close Thursday.

FXTM Global Head of Currency Strategy & Market Research, Jameel Ahmad said concerns over the trade war between the United States and China remained rampant, if not escalating even further, which would mean that risk appetite from investors could remain limited for some time.

Against other major currencies, the ringgit traded mostly higher.

It rose against the Singapore dollar to 2.9831/9855 from 2.9883/9914, increased against the euro to 4.7000/7042 from 4.7230/7277 and appreciated against the British pound to 5.2304/2363 from 5.2498/2544.

The local note, however, fell against the yen to 3.6763/6800 from 3.6653/6687.