Ringgit strengthens against US dollar at opening

KUALA LUMPUR: The ringgit carried on yesterday's positive momentum to open higher against the US dollar, as market players opined that the biggest currency beneficiaries post-European Union-US trade announcement have been the commodity-linked and carry-trade riskier currencies.
OANDA Head of Trading in Asia-Pacific, Stephen Innes said with the oil prices back on the up, the local currency should trade with a positive bias in today's session.
At 9am, the local note was quoted at 4.0480/0510 versus the greenback from Wednesday's close of 4.0530/0580.
"However, exuberance will likely be tempered by all the unknowns surrounding the US-China trade dispute," he added.
Yesterday, the US and European Union agreed to a "zero tariff" deal and iron out issues related to trade barriers and subsidies between the two largest economies.
The ringgit, meanwhile, traded lower against major currencies.
It fell versus the yen to 3.6547/6578 from 3.6464/6513 on Wednesday, slipped further against the euro to 4.7499/7543 from 4.7428/7503, depreciated against the Singapore dollar to 2.9798/9831 from 2.9766/9810, and eased against the pound to 5.3446/3502 from 5.3337/3407. — Bernama