Market remains cautious despite announcement of impending American trade deal with China. FMTNews Ringgit
KUALA LUMPUR: The ringgit started the week slightly lower against the US dollar today, marginally retreating from last week’s gains due to the positive outlook on the United States -China trade deal, dealers said.
As at 9.08am, the local note was traded at 4.1390/1430 against the greenback compared with Friday’s close of 4.1335/1355. A dealer noted that despite the announcement that the two economic giants have sealed a “phase one” deal, the market remained cautious as the US gave no indication of a further rollback in tariffs in the future.It rose against the British pound to 5.5280/5338 from 5.5443/5486 on Friday, and increased versus the Singapore dollar to 3.0560/0594 from 3.0566/0586 last week.
The ringgit also appreciated to 4.6042/6095 from 4.6208/6247 vis-a-vis the euro but eased against the yen to 3.7834/7881 from 3.7694/7722 previously.
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