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KUALA LUMPUR, May 28 – The ringgit opened a little lower against the US dollar today as investors returned to safe haven currencies due to a sense of caution in the global market, a dealer said .
At 9:05 am, the local currency fell to 4.1400 / 1450 against the greenback after yesterday’s close of 4.1380 / 1410.
The dealer said investors reacted to the mixed US economic data, with the number of initial jobless claims falling below expectations, which was generally bullish for the greenback.
âOn the other hand, much weaker than expected pending home sales data put the US dollar under pressure. The gross domestic product (GDP) data, roughly in line with expectations, failed to dispel investor doubts about the US economic recovery, âhe said.
Meanwhile, the local rating traded mostly higher against a basket of major currencies.
The ringgit rose against the Singapore dollar at 3.1245 / 1288 from yesterday’s close of 3.1258 / 1293 and strengthened against the euro at 5.0429 / 0507 from 5.0450 / 0499.
It also appreciated against the yen at 3.7657 / 7706 against 3.7890 / 7925 but weakened against the British pound at 5.8755 / 8830 against 5.8424 / 8479. – Bernama