Ringgit lower against US dollar in early session

KUALA LUMPUR: The ringgit opened slightly lower against the US dollar today due to better demand for the greenback on the back of solid economic outlook for the world's biggest economy.
As at 9.12am, the local unit was quoted at 3.9360/9400 against the US dollar from 3.9330/9360 recorded at the close yesterday.
A dealer said in recent weeks, the US dollar had been supported by the strong US economic outlook and rising yields, despite the US Federal Reserve holding interest rates steady at the conclusion of its two-day policy meeting on Wednesday.
"On the local front, however, there is not enough catalyst to move the ringgit higher," he added.
Meanwhile, the ringgit traded mixed against a basket of major currencies.
It fell against the Singapore dollar to 2.9468/9509 from 2.9458/9499 and declined against the yen to 3.5873/5913 from 3.5807/5844.
The local unit rose to 5.3478/3537 from 5.3701/3766 and was higher at 4.7098/7162 from 4.7188/7213 against the euro. — Bernama