KUALA LUMPUR – The ringgit opened slightly lower against the US dollar today due to strengthening of the greenback, said an analyst.
At 9 am, the local note eased to 4.0655/0690 against the US dollar from yesterday’s close of 4.0630/0650.
Axi chief global market strategist Stephen Innes said the dollar had strengthened overnight due to concerns that the US fiscal stimulus package may not be forthcoming.
Meanwhile, he said optimism over the US Food and Drug Administration’s vaccine approval and its subsequent roll out in the US is holding the oil market in check after a much larger than expected inventory build in the country. – Bernama, December 10, 2020
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