Ringgit Opens Easier Against US Dollar

KUALA LUMPUR, April 4 (Bernama) -- The ringgit opened easier against the US dollar Tuesday on lack of demand for the local amid a sombre greenback, said a dealer. At 9.23 am, the local unit was quoted at 4.4280/4320 against Monday's 4.4260/4290. The greenback is expected to receive dampening investor support, on the back of the upcoming meeting between US President Donald trump and Chinese President Xi Jinping, said the dealer. Meanwhile, anticipation over further US interst rate hike have also had an adverse effect on the dollar with traders trying to gauge the pace at which they will be raised throughout the year. Against a basket of major currencies, the ringgit was traded mostly lower. The local note declined against the euro to 4.7220/7281 from 4.7186/7235 on Monday and eased against the Singapore dollar to 3.1683/1730 from yesterday's 3.1664/1710. It depreciated against the yen to 4.0025/0072 from 3.9734/9779 on Monday but rose against the British pound to 5.5306/5360 from 5.5422/5464, previously. -- BERNAMA