Ringgit opens slightly lower against US dollar

KUALA LUMPUR: The ringgit opened slightly lower against the US dollar today on subdued demand on the back of a surge in US job openings in June and ahead of the release of inflation data, US producer prices as well as Consumer Price Index figures later this week. 
At 9am, the local unit stood at 4.2860/2900 against the greenback compared with Tuesday's close of 4.2840/2870. 
Job openings, a measure of labour demand, increased 461,000 to a seasonally adjusted 6.2 million, the highest level since December 2000, said the US Labor Department.
“Meanwhile, US producer prices for July, due on Thursday and Consumer Price Index figures on Friday will give investors a clue about the extent of the strengthening labour market,” said a dealer.
Against other currencies, the local note was mostly higher.
It rose against the Singapore dollar to 3.1411/1452 from 3.1472/1501 yesterday and depreciated versus the Yen to 3.8981/9028 from 3.8748/8793 on Tuesday.
However, the ringgit improved against the Euro to 5.0343/0395 from 5.0590/0642 yesterday and rose to 5.5632/5701 from 5.5825/5877 on Tuesday compared with the British pound. — Bernama