KUALA LUMPUR, Aug 13 — The ringgit opened slightly lower against the US dollar today as the greenback strengthened against commodity currencies, underpinned by recovery optimism. The local currency was also trading in a cautious mode amidst selling pressure ahead of the...
KUALA LUMPUR, Aug 13 — The ringgit opened slightly lower against the US dollar today as the greenback strengthened against commodity currencies, underpinned by recovery optimism.
At 9.00am, the local note stood at 4.2350/2370 versus the greenback compared with 4.2300/2330 at Thursday's close. “The United States President Joe Biden’s move to urge the Organisation of Petroleum Exporting Countries and its allies to boost production quickly in an effort to tame climbing gasoline prices would continue to affect market sentiments and crude oil prices, amidst an already oversupplied market,” he said.Nonetheless, Adam said the ringgit may get some support later today if Malaysia’s Q2 2021 GDP data — scheduled to be released this afternoon — surpasses expectations.
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