KUALA LUMPUR: The ringgit opened higher against the US dollar as investors remained cautious due to higher-than-expected inflation and ahead of global central bank policy updates.
At 8am, the ringgit rose to 4.4320/4.4480 against the greenback compared to yesterday’s closing rate of 4.4420/4.4465.
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Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said the general tone for the US Dollar Index (DXY) was softer amid the initial jobless claims last week at 223,000 against consensus estimates of 221,000.
More to come
