KUALA LUMPUR: The ringgit opened slightly lower against the US dollar despite a firmer crude oil price, as global concerns on rising Covid-19 cases continue to trigger some safe-haven flows into the greenback.
Oanda senior market analyst, Edward Moya said with many countries still struggling in the fight against Covid-19, US stocks edged higher into record territories as investors continue to opt for the US growth story. Moya said that investors are still bullish over the stocks, but noted that very little positioning would take place ahead of tomorrow’s key inflation data results and the start of the US earnings season.
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