Ringgit Opens Higher Against US Dollar

KUALA LUMPUR, July 13 (Bernama) -- The ringgit opened higher against the US dollar as the greenback retreated after US Federal Reserve Chair Janet Yellen's congressional comments which sparked a significant decline in US Treasury yields. At 9.08 am, the local note stood at 4.2860/2900 against the greenback compared with Wednesday's close of 4.2920/2950. However, gains were capped by the slight decline in oil prices. Benchmark Brent crude traded 0.23 per cent lower at US$47.63 per barrel. The ringgit was, however, traded mostly lower against other major currencies. It slipped against the Singapore dollar to 3.1128/1168 from 3.1061/1092 on Wednesday and eased against the yen to 3.7862/7901 from 3.7835/7865 on Wednesday. The local note declined against the pound to 5.5294/5358 from 5.5165/5208 Wednesday but strengthened against the euro to 4.9002/9060 from Wednesday’s 4.9178/9216. -- BERNAMA