Ringgit snaps two consecutive days of gains to open lower against the US dollar.
KUALA LUMPUR: The ringgit snapped two consecutive days of gains to open lower against the US dollar on cautious sentiment despite the weaker performance of the greenback.
Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said the 10-year US Treasury yield dropped by eight basis points to 4.58%. At 9am, the local note fell to 4.7200/4.7245 against the greenback from Wednesday’s close of 4.7145/4.7180.It went down against the euro to 5.0136/5.0184 from 4.9983/5.0020 at Wednesday’s close and declined vis-a-vis the British pound to 5.8113/5.8168 from 5.7918/5.7961 previously.The local note was traded lower against other Asean currencies.
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