KUALA LUMPUR, July 29 — The ringgit opened flat against the US dollar in the early session today with the greenback remained firm amid dovish European Central Bank’s (ECB) policy stance.
At 9.06am, the ringgit stood at 4.1180/1240 from Friday’s 4.1180/1210.
A dealer said the market continued to express ECB dovishness via the US dollar strength.
“The ringgit was traded against the greenback within familiar range with a lack of push and pull factors to test either side of the range.
“The market would now look towards the Federal Open Market Committee (FOMC) two-day policy meeting to kick off on Tuesday and the restart of US-China trade talks this week for further directional cues,” she added.
Overall, the ringgit was traded mostly higher against a basket of major currencies except for Japanese yen.
It was stronger against the Singapore dollar at 3.0072/0120 from 3.0091/0118 last Friday and appreciated vis-a-vis the euro at 4.5854/5937 from 4.5879/5920
The local currency also gained versus the British pound to 5.0968/1063 from 5.1211/1265 but fell against the yen to 3.7975/8034 from 3.7905/7936 previously. — Bernama
