The ringgit opened lower against the US dollar in the early session today as investors remain cautious on the global outlook despite a slightly weaker greenback, an analyst said.
At 9 am, the local note fell to 4.5950/6000 versus the greenback compared with Friday’s closing of 4.5745/5785.
The market was closed yesterday for the Yang di-Pertuan Agong’s official birthday holiday.
SPI Asset Management managing director Stephen Innes said the US dollar was marginally weaker due to the lower-than-expected ISM Services purchasing managers index (PMI) data and hopes of a softer interest rate hike by the United States Federal Reserve.
