KUALA LUMPUR: The ringgit opened higher against the US dollar today, as the local note remained attractive due to its better position than regional peers to withstand a steeper US yield curve, a dealer said. OANDA Head of Trading Asia-Pacific, Stephen Innes, said the ringgit has positioned itself well compared to its peers. “But the ringgit remains constructive, and one can only suspect year-end market conditions are holding the local note back from testing this year's ringgit against the dollar lows,” he said in a statement. The ringgit was traded mostly higher against a basket of major currencies. The local note gained higher against the Singapore dollar to 3.0234/0263 from yesterday's 3.0247/0310 and traded higher against the British pound at 5.4333/4393 from 5.4515/4607 on Wednesday.

Source: The Star December 21, 2017 01:49 UTC