KUALA LUMPUR: The ringgit opened marginally lower against the US dollar today on deterioration of risk sentiment, said dealers.
At 9 am, the ringgit was quoted at 3.9050/9100 from 3.9030/9080 recorded at Tuesday’s close.
OANDA Head of Trading Asia-Pacific, Stephen Innes said the ten-year US Treasury yields failed to gain traction above three per cent, resulting in a US equity market sell-off, which will dent global risk sentiment while making the ASEAN basket of currencies less attractive.
“The overnight sell-off in both US industrials and tech sectors should weigh negatively in today’s session.Nevertheless, investors continue to pair back the local currency exposure, as locals are turning increasingly risk-averse in thinking the election results could be a lot tighter than initially predicted,” he told Bernama.
Innes said crude oil prices coming may enter weekly highs and the ringgit will find little support.
The ringgit traded lower against a basket of major currencies.
Against the Singapore dollar, it eased to 2.9512/9561 from 2.9510/9559 and depreciated versus the yen to 3.5862/5918 from 3.5860/5913.
The ringgit decreased to 5.4619/4693 from 5.4466/4552 vis-a-vis the British pound and trimmed to 4.7758/7823 from 4.7644/7713 when compared with the euro.– BERNAMA