KUALA LUMPUR, Oct 31 — The ringgit rose against the US dollar in early trading session today due to better demand for the local note amid discouraging economic data from the US, said a dealer.

At 9am, the local note was quoted at 4.1755/1795 versus the greenback from 4.1785/1815 recorded at yesterday’s close.

Public Investment Bank in a note said a report released by the US Commerce Department yesterday showed a less than expected slowdown in US economic growth in the third quarter.

“The slightly slower gross domestic product growth compared to the previous quarter reflected a notable deceleration in consumer spending, which increased by 2.9 per cent in the third quarter after spiking by 4.6 per cent in the second quarter,” it said.

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On another development, the abrupt cancellation of Apec Chile 2019 summit next month as social unrest continued to rock capital city, Santiago had appeared to catch the White House off guard, whilst contributing to a hindrance to the US-Sino trade deal.

Meanwhile, the local note traded mostly lower against other major currencies.

The ringgit was marginally lower against the Singapore dollar at 3.0675/0714 from 3.0672/0699 while gained against the yen to 3.8371/8418 from 3.8381/8419.

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The local note declined against the British pound to 5.3918/3987 from 5.3840/3895 and was lower against the euro at 4.6594/6656 from 4.6431/6473. — Bernama