Malaysian Ringgit Opens Higher Against US Dollar

KUALA LUMPUR, Oct 26 (Bernama) -- The Malaysian ringgit rebounded from Wednesday's losses to open higher against the US dollar on Thursday as the greenback weakened over speculations on the change of the US Federal Reserve leadership. At 9 am, the local unit was traded at 4.2310/2340 versus the US dollar from Wednesday's close of 4.2340/2370. A dealer said concerns over the new Fed Chair appointment had shifted investors' sentiment towards emerging market currencies, including the ringgit. However, he noted that some investors stayed on the sidelines to await fresh leads ahead of the 2018 Budget, which would be tabled at the Dewan Rakyat tomorrow. The ringgit was traded lower against other major currencies. It fell against the Singapore dollar to 3.1101/1130 from 3.1055/1079 yesterday and weakened against the yen at 3.7228/7265 from Thursday's close of 3.7069/7105. The local note slipped against the British pound to 5.6128/6181 from 5.5902/5962 on Wednesday and was lower against the euro at 5.0002/0042 from 4.9817/9869 Thursday. -- BERNAMA