KUALA LUMPUR, Jan 30 — The ringgit retreated from yesterday’s gain to trade slightly lower against the US dollar in the early session today, as investors returned to safe-haven currencies due to positive sentiment on the global economy.
As of 9.20am, the ringgit was quoted at 4.0850/0880 against the US dollar compared with 4.0790/0820 at yesterday’s close.
A dealer said the US Federal Reserve held rates steady in its first policy-setting meeting of the year, changing little in its economic outlook as the US economy continues to extend its longest expansion on record.
Against other major currencies, the ringgit was traded mostly lower.
It rose to 2.9966/9993 from 2.9979/9012 against the Singapore dollar, but depreciated vis-a-vis the Japanese yen to 3.7501/7536 from 3.7408/7446 on Wednesday.
The local currency also weakened against the euro to 4.4988/5025 from 4.4869/4918 and decreased against the British pound to 5.3199/3242 from 5.3076/3131 yesterday. — Bernama
