Ringgit Rebounds To Open Marginally Higher Against US Dollar

KUALA LUMPUR, Feb 26 (Bernama) -- The ringgit slightly rebounded to open marginally higher against the US dollar Monday, on renewed interest on the emerging currencies, said dealers. At 9.30 am, the local note was quoted at 3.9100/9150 versus the greenback from 3.9170/9200 on Friday. A dealer said that investors were awaiting news from the Federal Reserve Governor Jerome Powell's first congressional testimony, which could give hints on the future pace of US monetary tightening. The ringgit also traded higher against a basket of major currencies. It strengthened against the Singapore dollar to 2.9617/9666 from Friday’s 2.9607/9639 and depreciated against the yen to 3.6600/6657 from 3.6642/6677. The local unit also decreased against the British pound to 5.4638/4716 from 5.4705/4762 and eased against the euro to 4.8054/8123 from 4.8203/8255 on Friday. -- BERNAMA