Ringgit Opens Marginally Lower On Profit Taking

KUALA LUMPUR, Feb 21 (Bernama) -- The ringgit opened marginally lower versus the US dollar Thursday morning on profit-taking after it closed at the highest level in more than six months, which was last seen on Aug 1, 2018 Wednesday. At 9 am, the ringgit was quoted at 4.0650/0700 compared to Wednesday’s close of 4.0640/0700. A dealer, however, said, with the ringgit's position was still relatively positive with the prospect of higher oil prices may have capped the local note's decline. He also said the US dollar investors also remain cautious as tensions flare up between US president Donald Trump's administration and the Democrat-controlled Congress. “This came as 16 states filed a lawsuit against the Trump's administration following its declaration of a national emergency over controversial Mexican border security wall,” he said. Meanwhile, the ringgit was traded mostly lower against other major currencies. It fell against the Singapore dollar to 3.0080/0121 from 3.0066/0115 Wednesday, weakened against the British pound to 5.3012/3097 from 5.2986/3081, and slipped versus the Japanese yen to 3.6724/6779 from 3.6679/6743. The local note, however, appreciated vis-a-vis to the euro to 4.6105/6182 from 4.6106/6195 previously. -- BERNAMA