KUALA LUMPUR, June 30 — The ringgit opened slightly lower against the US dollar today as the demand for goods and services in the United States (US) boosted the greenback, a dealer said.
At 9.03am, the local note declined to 4.1540/1590 versus the US dollar from 4.1510/1530 at yesterday's close.
ActivTrades trader, Dyogenes Rodrigues Diniz said the dollar had strengthened after the recently released Consumer Confidence Index survey by the US Conference Board reported higher-than-expected numbers.
“As this is a leading indicator that measures the level of confidence based on families’ spending and the demand for goods and services, the market reacted quickly, thus pushing the greenback higher,” he said.
The survey also suggested a strong momentum in the economy at the end of the second quarter as it reported consumers’ healthy appetite for long-lasting manufactured goods.
At the opening, the ringgit was also traded marginally lower against a basket of major currencies.
Against the British pound, it fell to 5.7541/7610 from 5.7516/7544 at yesterday's close and eased vis-a-vis the euro to 4.9437/9496 from 4.9434/9458 previously.
The local unit also weakened against the Singapore dollar to 3.0887/0927 from 3.0883/0900 yesterday and declined against the Japanese yen to 3.7583/7628 from 3.7538/7560 previously. — Bernama
Source: Malay Mail
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