Ringgit Opens Easier Against Greenback

KUALA LUMPUR, May 24 (Bernama) -- The ringgit opened easier against the US dollar Wednesday on mild profit-taking following Tuesday's gains. At 9.02 am, the local unit was quoted at 4.3020/3050 against Tuesday’s 4.2920/2950. A dealer said the greenback also edged up against other currencies supported by the increase in the US Treasury yields. Investors’ focus was on the Federal Reserve’s monetary policy stance for the next interest rate hike. However, against other major currencies, the ringgit was traded higher. It rose against the Singapore dollar to 3.0918/0962 from 3.0938/0971 on Tuesday and increased against the British pound to 5.5763/5814 from 5.5770/5814 . The ringgit, appreciated against the Japanese yen to 3.8466/8499 from 3.8611/8641 and strengthened vis-a-vis the euro to 4.8118/8164 from 4.8319/8357 Tuesday. -- BERNAMA