Ringgit opens higher against US dollar

KUALA LUMPUR: The ringgit rose against the US dollar on Wednesday morning as fears of a trade war between the US and Mexico simmered down, a dealer said.OANDA Senior market analyst, Alfonso Esparza said the dollar traded higher after Washington brokered a deal on migration with its North American neighbour which avoided painful tariffs on Mexican goods.

“The negotiations between the two super-powers don’t have a set date, and with the G20 in Japan fast approaching, the chance there is a positive announcement is uncertain,” he said.It depreciated against the Singapore dollar to 3.0503/0551 from 3.0484/0522 at last Tuesday’s close, lower versus the yen to 3.8334/8391 from 3.8283/8324 and weakened against the euro to 4.7133/7194 from 4.7086/7148.Subscribe to our newsletter and get news delivered to your mailbox.

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