KUALA LUMPUR: The ringgit extended last week’s downtrend to open lower against the US dollar as the greenback strengthened on better-than-expected employment data. At 9am, the ringgit was quoted at 4.1460/1480 against the US dollar from 4.1360/1400 on Friday. AxiCorp’s chief market strategist Stephen Innes said the ringgit remains under pressure on general Asia de-risking amid concerns over the novel coronavirus (2019-nCoV). Against other major currencies, the ringgit was traded mostly lower. It weakened against the Singapore dollar to 2.9799/9818 from 2.9730/9769 on Friday, depreciated vis-a-vis the Japanese yen to 3.7801/7829 from 3.7672/7712 and dropped against the euro to 4.5407/5433 from 4.5306/5354.

Source: New Strait Times February 10, 2020 02:03 UTC