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KUALA LUMPUR: The ringgit opened lower against the US dollar today amid mixed data in the United States (US) and a correction in major benchmark equity markets, an analyst said.
At 9 am, the local note stood at 4.1800/1830 versus the greenback from 4.1785/1830 at Tuesday’s close.
Hence, the ringgit versus the US dollar could experience some correction today as the local unit has appreciated in the past few days, Bank Islam Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said.
"It’s quite a listless market, given that not much market moving data although developments over the Omicron variant is quite encouraging,” he told Bernama.
At the moment, he expects the resistance and support level for the domestic unit to stand at RM4.1862 and RM4.1498, respectively.
Meanwhile, the ringgit was traded mixed against a basket of other major currencies.
It appreciated against the British pound to 5.6158/6199 from 5.6188/6249 at Tuesday’s close and climbed versus the euro to 4.7280/7314 from 4.7355/7406.
However, the local unit depreciated against the Japanese yen to 3.6402/6431 from 3.6401/6444 and shrank vis-a-vis the Singapore dollar to 3.0865/0889 from 3.0860/0898 previously. - Bernama