Ringgit flat against greenback in early trade
At 9.15am, the local unit stood at yesterday’s close of 4.2905/2945 against the greenback.
Senior trader at OANDA Stephen Innes said the ringgit was however, in good standing from the macro perspective and offered a good yield return which should be attractive to investors looking to widen their regional risk appeal.
The greenback seemed to be under pressure as investors were keenly waiting for the release of today’s US Consumer Price Index inflation report.
The ringgit was traded mostly lower against other major currencies.
It declined against the Singapore dollar to 3.1174/1208 from 3.1149/1190 on Thursday, but rose against the Yen to 3.7798/7847 from 3.7969/8015.
The ringgit weakened against the pound to 5.5493/5554 from 5.5442/5511 and eased against the Euro to 4.8925/8974 from 4.8890/8949 yesterday. — Bernama