KUALA LUMPUR, Feb 4 — The ringgit opened slightly lower against the US dollar on lack of catalysts, said a dealer.
At 9.05am, the ringgit was pegged at 4.0980/1050 against the greenback from Friday’s close of 4.0930/0980.
OANDA Senior Market Analyst Jeffrey Halley said the Asian foreign exchange trading would likely be quiet today due to the Chinese New Year holiday, with the only highlight being a Philippines’ interest rate decision which the market expected to remain unchanged.
Meanwhile, the US dollar strengthened against a number of currencies boosted by a stronger-than-expected US jobs data and factory data.
“The US sprung a blockbuster Non-Farm Payrolls on the markets on Friday, with payrolls rising 302,000 versus 165,000 expected. The data lifted the dollar, stocks and oil, with golds falling and bonds almost unchanged,” said Halley.
Meanwhile, the local note traded higher against other major currencies.
It strengthened against the Singapore dollar to 3.0315/0383 from 3.0409/0450 on Friday and increased versus the Japanese Yen to 3.7401/7475 against 3.7699/7749.
The local unit advanced vis-a-vis the British pound to 5.3585/3698 from 5.3688/3758 and appreciated against the euro to 4.6938/7027 from 4.7000/0070. — Bernama
