KUALA LUMPUR, July 10 ― The ringgit opened lower against the US dollar today, owing to the sliding oil prices as a surge in new Covid-19 cases in the United States dampened investors’ mood, said an analyst. As at 9am, the local unit weakened to 4.2670/2750 against the greenback from...
As at 9am, the ringgit weakened to 4.2670/2750 against the greenback from yesterday’s close of 4.2600/2650. — Reuters pic
As at 9am, the local unit weakened to 4.2670/2750 against the greenback from yesterday’s close of 4.2600/2650. “The rise of new cases in the US triggered a three per cent correction in oil prices overnight as the virus continues to see states such as California, Texas and Florida, which are producing oil states, notching some of the biggest daily increase in cases and deaths this week,” he told Bernama.
The research firm said investors would continue to monitor new coronavirus cases in the US and the country’s Supreme Court ruling on President Donald Trump’s financial records.
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