Ringgit Opens Higher Against US Dollar

KUALA LUMPUR, Dec 29 (Bernama) -- The ringgit opened higher against the US dollar Thursday as the United States yields reached a two-week low on overnight decline amid better demand for the local note, said dealers. At 9.08 am, the ringgit was quoted at 4.1785/1835 against the greenback from 4.1860/1900 on Wednesday. A dealer said the weaker-than-anticipated pending home sales data and an encouraging debt auction caused Treasury yields to deteriorate. Meanwhile on the local front, there was renewed optimism as forex traders would want to end the year on a higher note, he said. The ringgit were traded mostly higher against a basket of major currencies. The ringgit fell against the Singapore dollar to 3.0877/0916 from 3.0867/0901 on Wednesday and weakened versus the yen to 3.8302/8351 from 3.8069/8113. It appreciated against the British pound to 5.4760/4844 from 5.4862/4929 and rose against the euro to 4.6698/6773 from 4.6758/6808. -- BERNAMA