Malaysian Ringgit Lower At Opening

KUALA LUMPUR, Jan 16 (Bernama) -- The Malaysian ringgit opened lower against the US dollar on Wednesday, a dealer said. At 9.05 am, the ringgit stood at 4.1080/1130 compared to Tuesday’s close of 4.1030/1080. The dealer said the market retreated slightly after the recent rally, following lack of market-moving news on the local front. “The dollar remained stronger against some major currencies, amid a slew of economic data and the vote on Brexit,” he added. Overall, the market traded mixed in the early trade. The ringgit was stronger against the Singapore dollar at 3.0306/0348 from 3.0312/0360 and the euro at 4.6868/6933 from 4.6910/6975 yesterday, after data showed Germany's economy slowed in 2018. It, however, slid against the British pound at 5.2808/2885 from 5.2777/2874 as the sterling rallied back from a sharp drop despite Prime Minister Theresa May's Brexit defeat in Tuesday's vote. The ringgit also weakened against the yen at 3.7879/7936 from 3.7788/7844. -- BERNAMA