Ringgit opens almost flat against US dollar

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Ringgit opens almost flat against US dollar
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Investors shift towards safe-haven currencies after America’s “phase one” trade agreement with China. FMTNews Ringgit

KUALA LUMPUR: The ringgit opened almost flat against the US dollar today with demand yet to pick up, said a dealer.

At 9.05am, the local note was traded at 4.1400/1450 to the dollar compared with yesterday’s close of 4.1400/1440. The dealer said more investors shifted interest towards safe-haven currencies after the two economic giants, the US and China, sealed a “phase one” trade agreement. “However, the market remained cautious as the US gave no indication of a further rollback in tariffs going forward,” he added.The local unit fell versus the Singapore dollar to 3.0544/0584 from 3.0542/0583 and eased against the euro to 4.6107/6179 from 4.6086/6148.

It appreciated against the yen to 3.7791/7847 from 3.7836/7876 and rose vis-a-vis the British pound to 5.5016/5099 from 5.5194/5264.

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