KUALA LUMPUR, June 25 ― The ringgit declined against the US dollar in the early trading session as some traders decided to take profits off the table, snapping the local note’s two-day winning streak.
As at 9.15am, the ringgit was quoted at 4.2760/2830 against the US dollar from 4.2700/2750 at the close yesterday.
Furthermore, a dealer said market sentiment turned cautious due to signs of a second wave of Covid-19 infections in Asian countries, which drove investors into a risk-off mode and straight into the safe-haven US dollar’s corner.
The ringgit, however, was traded higher against major benchmark currencies.
It rose against the Singapore dollar to 3.0703/0775 from 3.0744/079 and increased against the yen to 3.9922/9998 from 4.0083/0141 yesterday.
The local note was higher against the British pound to 5.3146/3238 from 5.3413/3493 and rose against the euro to 4.8131/8218 from 4.8255/8329 previously. ― Bernama
