Ringgit Lower Against US Dollar In Early Session

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KUALA LUMPUR, June 12 (Bernama) -- The ringgit opened lower against the US dollar for the second consecutive day but the local currency is expected to catch an updraft from the positive regional risk vibe on the back of the US-North Korea summit Tuesday.

OANDA Head of Trading in Asia-Pacific, Stephen Innes however stressed that with the impending US Federal Reserve and European Central Bank’s meetings, gains would likely be capped.

At 9 am, the ringgit was quoted at 3.9870/9920 from the 3.9860/9900 recorded at Monday's close.

The local unit was traded higher against a basket of currencies this morning.

It increased against the British pound to 5.3226/3309 from 5.3281/3342 and rose against the Japanese yen to 3.6150/6205 from Monday’s 3.6223/6263.

Vis-a-vis the Singapore dollar, the ringgit appreciated to 2.9807/9856 from yesterday’s 2.9855/9897 and was higher against the euro to 4.6835/6906 from 4.6987/7054 registered previously.