KUALA LUMPUR: The ringgit eased against the US dollar in early trade today due to the lack of catalysts, said an analyst.

At 9.05 am, the local currency was pegged at 4.7775/7805 against the greenback compared with Monday’s close of 4.7750/7795.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said there is not much catalyst for the ringgit to appreciate although technical indicators suggest that the local note is already in the oversold region.

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