Ringgit opens lower against US dollar
With traders making the shift back to safe haven currencies, the ringgit took a downturn at the start of the trading session. — Reuters pic
KUALA LUMPUR, Feb 28 — The ringgit retreated from yesterday's gains to trade lower against the US dollar in the early session today, as investors shifted back to the safe haven currencies due to new development on the Brexit negotiation, a dealer said.The dealer said the US dollar remained strong in line with an ongoing rise of pound sterling to seven-month highs after European leaders indicated they would consider delaying the UK's departure if a trade deal is not agreed by March 29.
Vis-a-vis the Singapore dollar, the local unit weakened to 3.0194/0228 from 3.0155/0197 and depreciated versus the British pound to 5.4211/4276 from 5.3970/3053 previously. — Bernama
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