KUALA LUMPUR – The ringgit was slightly lower against the US dollar at the opening on lack of demand for the local note, while the greenback is attracting interest on optimism over the US economy, a dealer said.
As at 9am, the ringgit opened lower against the greenback at 4.1460/1500 compared with 4.1445/1485 at Friday’s close.
US President Joe Biden is expected to put some detail on his infrastructure spending plans on Wednesday, while payrolls on Friday are forecast to rise 630,000 amid chatter it could be a million or more.
American economists are projecting that the global economy will expand at roughly 6.4% this year, mainly attributed to the US fiscal stimulus, giving positive spillovers for the rest of the world. – Bernama, March 29, 2021
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