Ringgit weaker against main currencies early Monday

KUALA LUMPUR: The ringgit opened lower against the greenback on Monday as traders' risk appetite continued to support the US currency and assets.

At 9.08 am, the local unit was quoted at 4.0810/0860 against 4.0535/0595 versus the greenback at 6 pm last Friday A dealer said the recent upbeat US economic data had added to prospects of a near-term US Federal Reserve interest rate hike thus rejuvenating the greenback. The local note also declined against the Singapore dollar to 2.9946/0002 in early trade from Friday's 2.9891/9937 and fell against the yen to 3.8240/8305 from 3.8223/8290. Against the British pound, the ringgit weakened to 5.3559/3641 from Friday's 5.3194/3281 and against the euro, it eased to 4.4695/4766 from 4.4686/4768 previously. - Bernama Sources: The Star

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