Ringgit opens lower against greenback on technical correction

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KUALA LUMPUR: The ringgit opened lower against the US greenback on Wednesday as technical correction continues as a consequence of profit-taking actions amid firmer oil costs, sellers stated.

At 9 am, the native foreign money was traded at 4.1920/1932 against the greenback from 4.1860/1880 at Tuesday’s shut.

The climb in crude oil costs, which noticed Brent crude traded 0.29 per cent greater at US$80.23 per barrel on the time of writing, additionally lent assist to the ringgit.

Meanwhile, merchants can be monitoring the dangers posed by the Omicron variant in addition to focusing on this week’s US Federal Reserve minutes releases and US payroll information, based on reviews.

On one other notice, the ringgit was traded combined against a basket of different main currencies.

It eased versus the Singapore greenback to three.0905/0916 from Tuesday’s shut of three.0891/0906 however improved against the Japanese yen to three.6076/6089 from 3.6133/6153.

The native foreign money depreciated vis-a-vis the British pound to five.6718/6734 from 5.6465/6489 on Tuesday however strengthened against the euro to 4.7277/7291 from 4.7310/7337. – Bernama



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