Malaysian Ringgit Opens Easier Against US Dollar

KUALA LUMPUR, June 21 (Bernama) -- The Malaysian ringgit opened lower against the US dollar on Wednesday as the greenback continued its uptrend momentum on the back of optimism over a seemingly stronger US economic outlook. At 9 am, the local unit stood at 4.2870/2900 against the greenback from 4.2820/2850 on Tuesday. A dealer said ringgit movement continued to be dependent on the strength or weakness of the dollar. “Market players will be watching for further signals that the US economy is indeed strengthening,” he said. The ringgit, however, was traded mostly higher against a basket of major currencies. It appreciated against the Singapore dollar to 3.0851/0883 from Tuesday’s closing of 3.0863/0890 but depreciated against the Japanese yen to 3.8476/8510 from 3.8386/8417 on Tuesday. The local unit firmed against the British pound to 5.4115/4157 from 5.4373/4424 Tuesday and edged up against the euro to 4.7740/7778 from 4.7779/7825 on Tuesday. -- BERNAMA