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Ringgit Opens Unchanged Against US$ Friday, Yellen’s Speech Awaited

in Latest/Slider

KUALA LUMPUR: The ringgit opened unchanged against the US dollar, in early trade Friday, as investors and traders awaited for hints on a potential US interest rate hike, later Friday.

At 9 am, the ringgit was quoted unchanged from yesterday’s close of 4.0150/0200.
A dealer said the lack of moves by Asian currency traders in the market was due to position adjustment ahead of the speech by Federal Reserve Chair Janet Yellen later Friday which will set the direction for the dollar.

Meanwhile, the local currency was traded mixed against a basket of major currencies.

The local note improved against the euro to 4.5337/5402 from 4.5341/5414 but slipped against the Singapore dollar to 2.9695/9754 from 2.9675/9718 on Thursday.

It appreciated against the British pound to 5.3030/3112 from 5.3074/3148 on Thursday but weakened against the yen to 3.9978/4.0040 from 3.9970/1036 yesterday.

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