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Ringgit marginally lower against US dollar on cautious demand

Analyst says there appears to be optimism as HK lifts virus lockdown

Updated 5 years ago · Published on 25 Jan 2021 9:37AM

Ringgit marginally lower against US dollar on cautious demand
At 9.15am, the ringgit inches down to 4.0440/0500 against the greenback from 4.0415/0445 at last Friday’s close. – File pic, January 25, 2021

KUALA LUMPUR – The ringgit opened slightly lower against the United States dollar today on cautious demand for the local currency, said an analyst.

Axi chief global market strategist Stephen Innes said there seems to be a more optimistic tone, however, perhaps due to investors heaving a sigh of relief as Hong Kong has lifted its Covid-19 lockdown, while assuaging fears of China stepping back into one despite stepped-up movement controls ahead of Chinese New Year next month.

At 9.15am, the local currency inched down to 4.0440/0500 against the greenback from 4.0415/0445 at last Friday’s close. – Bernama, January 25, 2021

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