KUALA LUMPUR: The ringgit was higher against the US dollar in the early session today, tracking a weaker US dollar index (DXY) as traders positioned ahead of key US labour market and consumer confidence data.
At 8.03am, the local currency was pegged at 4.0605/4.0730 against the greenback from Monday’s close of 4.0680/4.0735.
Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said the US dollar remained at an elevated level in the absence of market-moving data points while the DXY stood at 101.10 points, declining by 0.25% from the previous close.
MORE TO COME
