KUALA LUMPUR: The ringgit opened lower against the US dollar today on a lack of interest in the local unit, dealers said.
At 9.00 am, the ringgit stood at 3.9160/9210 against the greenback from Wednesday's close of 3.9070/9100.
A dealer said the US dollar remained bullish against the local currency with positive momentum indicators picking up, and expected to climb higher, but could be temporarily disrupted by a technical pullback before moving up again.
Meanwhile, Oanda Corp Head of Trading for Asia Pacific, Stephen Innes, said the ringgit continued to weigh negatively amid the re-emergence of the Federal Reserve Board's hawkish statements, as well as oil prices which are looking very susceptible to ramped up US shale oil production.
"The uptick in market volatility has also tamed investors appetite, so the ringgit's bullish signals are far and few in between,” he added.
However, the ringgit traded higher against a basket of major currencies, except the Japanese yen.
It improved against the Singapore dollar to 2.9557/9599 from 2.9614/9646 and strengthened against the euro to 4.8057/8134 from Wednesday's close of 4.8248/8292.
The ringgit also rose against the British pound at 5.4366/4455 from 5.4389/4447, but eased against the yen to 3.5815/5870 from 3.5811/5849. - Bernama
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