{"id":15076,"date":"2022-10-03T13:51:54","date_gmt":"2022-10-03T05:51:54","guid":{"rendered":"https:\/\/newmalaysiatimes.com\/?p=15076"},"modified":"2022-10-03T13:51:55","modified_gmt":"2022-10-03T05:51:55","slug":"ringgit-opens-lower-against-the-us-dollar-in-early-trade","status":"publish","type":"post","link":"https:\/\/newmalaysiatimes.com\/?p=15076","title":{"rendered":"Ringgit opens lower against the US dollar in early trade"},"content":{"rendered":"\n

KUALA LUMPUR, Oct 3<\/strong> — The ringgit retreated from its gains last week to open lower against the US dollar on Monday amid mixed sentiment in the market as investors continue to seek the safe-haven greenback, a dealer said.<\/p>\n\n\n\n

At 9 am, the local currency eased to 4.6400\/6445 against the greenback from Friday\u2019s close of 4.6360\/6390.<\/p>\n\n\n\n

Kenanga Research said in a note that global market uncertainties, on top of the United Kingdom\u2019s sterling crisis and a looming recession in Europe, have boosted demand for the US dollar, further pressuring emerging currencies, including the ringgit.<\/p>\n\n\n

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\"ringgit\"<\/figure><\/div>\n\n\n

The continued hawkishness of the US Federal Reserve (Fed), coupled with the red-hot US labour market, may spark another cycle of sell-off in riskier assets with the greenback rallying, it added.<\/p>\n\n\n\n

“The ringgit may continue to trade above the 4.6000 threshold level against the greenback as the US dollar index is expected to trade above the 112.0 level,”<\/em> the research house\u00a0said.<\/p>\n\n\n\n

On the home front, investors are also keeping a close watch on the upcoming Budget 2023 scheduled to be tabled on Friday, which may partially cap the ringgit\u2019s losses.<\/p>\n\n\n\n

Meanwhile, the ringgit traded mostly higher against a basket of major currencies.<\/p>\n\n\n\n

It rose against the British pound to 5.1657\/1707 from 5.1728\/1762 last week, gained against the Japanese yen to 3.2049\/2082 from 3.2103\/2126, and appreciated versus the Singapore dollar to 3.2323\/2359 from 3.2343\/2368.<\/p>\n\n\n\n

However, the local note inched down vis-a-vis the euro to 4.5495\/5539 from Friday’s close of 4.5428\/5458. <\/p>\n\n\n\n

NMT<\/a> as reported by Bernama<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

KUALA LUMPUR, Oct 3 — The ringgit retreated from its gains last week to open…<\/p>\n","protected":false},"author":1,"featured_media":14885,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17,524],"tags":[],"class_list":["post-15076","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-nation"],"featured_image_urls":{"full":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/09\/NMT.png",940,788,false],"thumbnail":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/09\/NMT-150x150.png",150,150,true],"medium":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/09\/NMT-300x251.png",300,251,true],"medium_large":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/09\/NMT-768x644.png",640,537,true],"large":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/09\/NMT.png",640,537,false],"1536x1536":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/09\/NMT.png",940,788,false],"2048x2048":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/09\/NMT.png",940,788,false],"newsium-slider-full":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/09\/NMT.png",940,788,false],"newsium-featured":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/09\/NMT.png",940,788,false],"newsium-medium":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/09\/NMT.png",567,475,false]},"author_info":{"info":["Editor"]},"category_info":"Economy<\/a> Nation<\/a>","tag_info":"Nation","comment_count":"0","_links":{"self":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/15076","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15076"}],"version-history":[{"count":1,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/15076\/revisions"}],"predecessor-version":[{"id":15077,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/15076\/revisions\/15077"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/media\/14885"}],"wp:attachment":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15076"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15076"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15076"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}