KUALA LUMPUR: The ringgit extended yesterday’s losses to open lower against the US dollar this morning as interest for the local currency was curbed by the stronger greenback buoyed by optimism of the US-China trade deal, dealers said.A dealer said sentiment for the US dollar strengthened bolstered by the latest developments on US-China trade deal, with “phase one” of the deal is expected to be signed as early as this month.
Nevertheless, reports that both economic powerhouses might delay their plans to finalise the first part of the agreement until December as Washington and Beijing continued to negotiate about the venue of the signing and terms of a deal, could lend support for emerging currencies, including ringgit, he said.It fell against the Singapore dollar to 3.0452/0504 from 3.0434/0460 on yesterday’s close, weakened versus the Japanese yen to 3.8044/8097 from 3.
The local currency, however, appreciated slightly vis-a-vis the British pound to 5.3242/3314 from 5.3275/3331 previously.