Ringgit opens higher against US dollar

January 13, 2020 editor

KUALA LUMPUR, Jan 13 ― The ringgit opened higher against the US dollar in early trading session today due to emerging risk appetite among traders, on the back of US-China trade optimism as well as the easing of geopolitical tensions in the Middle East.

As at 9.09am, the ringgit was at 4.0640/0680 against the US dollar from 4.0750/0780 at Friday’s close.

In a note, Public Investment Bank said the market was beaming with positivity as US-China trade discussion resumes and tension between Washington and Teheran in the Middle East de-escalated which has led to anticipation of growth in the global technology industry.

According to reports, there would be a possible trade deal signing between US-China this Wednesday.

Meanwhile, the ringgit traded higher against a basket of major currencies, where it rose to 3.7070/7117 from 3.7160/7198 against the Japanese yen.

The local note improved to 3.0144/0183 against the Singapore dollar from 3.0194/0219 at the close on Friday, rose against the British pound to 5.2978/3035 from 5.3244/3299 and strengthened against the euro at 4.5184/5232 from 4.5216/5254. ― Bernama

Source: MalayMail