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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