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Ringgit opens higher against US dollar

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Kuala Lumpur
– The ringgit opened higher against the US dollar for the third consecutive trading day today as emerging concern over the ‘safe haven’ currencies shifted investors interest towards emerging currencies, dealers said.

At 9.15 am, the local unit was quoted at 4.2100/2130 against the US dollar from yesterday’s close of 4.2170/2220.

At 9.15 am, the local unit was quoted at 4.2100/2130 against the US dollar from yesterday’s close of 4.2170/2220.

A dealer said that the greenback pulled back against most major currencies as investors were concerned that President Donald Trump’s tax overhaul plan would stall.

The local note was also traded higher against other major currencies today.

It strengthened against the Singapore dollar to 3.1056/1090 from Tuesday’s 3.1058/1106 and inched up against the yen to 3.7486/7519 from 3.7521/7572 yesterday.

The ringgit appreciated against the euro to 4.9754/9802 from 4.9765/9828 yesterday and went up against the British pound to 5.5635/5687 from 5.5652/5739 previously. – Bernama