The ringgit opened lower versus the US dollar on firmer US data but appreciated against the euro, yen and pound on Tuesday.
KUALA LUMPUR: The ringgit opened lower against the US dollar on Tuesday as robust US economic data strengthened the greenback.
At 8 am, the local currency slid to 3.9540/9650 against the US dollar from 3.9440/9500 last Friday.
The US manufacturing Purchasing Managers Index rose to 52.6 in January from 47.9 in December, according to the Institute for Supply Management.
READ MORE: Ringgit hits fresh 2018 high of 3.9540 against US dollar
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the US Dollar Index rose after the stronger ISM data.
“On that note, the ringgit could experience a weaker trajectory today,” he told Bernama.
Meanwhile, the ringgit traded higher against a basket of other major currencies.
It appreciated against the euro to 4.6649/6779 from 4.6957/7029 at last Friday’s close.
The local note climbed against the Japanese yen to 2.5426/5498 from 2.5562/5603.
It also rose versus the British pound to 5.4059/4209 from 5.4163/4245.
However, the ringgit opened lower against its ASEAN peers.
It weakened versus the Singapore dollar to 3.1092/1184 from 3.1077/1127.
The ringgit dropped against the Thai baht to 12.5488/5941 from 12.5250/5544.
It fell against the Philippine peso to 6.71/6.73 from 6.69/6.71.
The local note also retreated against the Indonesian rupiah to 235.3/236.1 from 234.9/235.4 last Friday.
The market was closed on Monday for the Thaipusam and Federal Territory public holidays. – Bernama
