KUALA LUMPUR (May 23): The ringgit retreated from yesterday’s gains to open slightly weaker against the US dollar today on mild profit taking due to concerns over a possible US interest rate rise, dealers said.
At 9.04 am, the local note was quoted at 3.9710/9750 versus the greenback from yesterday’s close of 3.9655/9685.
A dealer said investors were now looking to the release of the US Federal Reserve minutes from its recent meeting for hints about the next US interest rate hike.