Ringgit opens lower in line with emerging Asian currencies

At 9.03 am (0103 gmt), the ringgit was quoted at 4.0530/0600 against the greenback compared with Tuesday 's close of 4.0445/0485.

KUALA LUMPUR: The ringgit traded lower against the US dollar at opening today, in line with emerging Asian currencies and against the backdrop of trade war tensions, said Oanda Head of Trading Asia-Pacific, Stephen Innes.

At 9 am, the ringgit was quoted at 4.0570/0600 versus the greenback from yesterday's close of 4.0550/0600.

“Local traders are now waiting to take their cues from both the Bank of Japan and The Federal Open Market Committee in respect of forward guidance as well as the US non-farm payroll (data).

"However, oil prices will remain supportive of the ringgit, while Asia's emerging market sentiment should continue to dictate the price action," he added.

Against other major currencies, the ringgit traded lower.

It fell against the Singapore dollar to 2.9802/9842 from 2.9761/9809 and slid against the Japanese yen to 3.6559/6593 from 3.6509/6563 recorded on Monday.

The ringgit depreciated vis-a-vis the British pound to 5.3252/3308 from 5.3202/3283 and declined against the euro to 4.7491/7530 from 4.7379/7445. - Bernama