KUALA LUMPUR: The ringgit opened lower against the US dollar due to the strengthening of the US dollar index but rose against other major currencies, according to an analyst.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the US dollar index rose 0.01 per cent to 104.606 points, as the United States Consumer Confidence Index increased more than expected to 102 points in May. "As such, ringgit could trade cautiously as market participants await the Fed’s favourite inflation gauge on Friday,” Mohd Afzanizam told Bernama.
Ringgit US Dollar Index Mohd Afzanizam Abdul Rashid US Inflation Opening
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