KUALA LUMPUR: The ringgit was moderately lower against the US dollar at Thursday’s opening on lack of demand despite yesterday’s decision by the US Federal Reserve to cut the interest rate.
At 9am, the ringgit eased to 4.1905/1945 versus the greenback from 4.1820/1860 at Wednesday’s close.
A dealer said the Fed’s move to slash its rate by a quarter was widely anticipated. It was its second cut in the year.
“Overall, the global market continues to be a lack of catalysts with market players keeping their eyes open on the US-China trade talks which will commence today,” he said.
Meanwhile, against a basket of other major currencies, the ringgit traded mostly lower except to the euro, which increased to 4.6192/6253 from 4.6199/6259.
It fell versus the yen to 3.8690/8738 from 3.8640/8688, depreciated against the British pound to 5.2235/2301 from 5.2116/2174 but remained unchanged at yesterday’s 3.0423/0463 versus the Singapore dollar. - Bernama
