Ringgit lower against US dollar in early trading

Malaysian ringgit notes of different denominations on top of US dollar notes in this file photo illustration  March 14, 2013. — Reuters pic
Malaysian ringgit notes of different denominations on top of US dollar notes in this file photo illustration March 14, 2013. — Reuters pic

KUALA LUMPUR, April 16 — The ringgit was traded lower against the US dollar in early trading today due to profit-taking following yesterday’s gains, amidst lack of market moving factors.

At 9.06am, the local unit was traded at 4.1110/1150 against the greenback from 4.1080/1110 recorded at yesterday’s close.

A dealer said given the lack of fresh leads in the local market, investors’ interest shifted towards the US dollar.

“This is especially considering the United States’ yield on the benchmark 10-year Treasury note held steady at 2.5 per cent while the yield on the 30-year Treasury bond was little changed at 2.9 per cent,” he added.

Meanwhile, the ringgit was also traded lower against other major currencies.

It decreased against the Singapore dollar to 3.0387/0425 from 3.0378/0405 and weakened against the Japanese yen to 3.6709/6754 from 3.6698/6728.

The ringgit fell against the British pound to 5.3850/3907 from 5.3815/3866 and depreciated against the euro to 4.6475/6532 from 4.6470/6520. — Bernama

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