The ringgit opened higher against the US dollar today as cautious global economic sentiment prompted investors to shift towards developing currency markets.
At 9.10am, the ringgit was trading at 4.7075/4.7110 against the US dollar from 5.7110/4.7150 at Monday's close.
Market participants are now awaiting the announcement of the US Personal Consumer Expenditure (PCE) price index on Friday where the Federal Reserve (Fed) will rely on this data in assessing progress in reducing inflation to the 2% target.
In addition, they will also closely monitor the input results of the first US presidential debate between Joe Biden and Donald Trump scheduled for Thursday after their market session closes.
Meanwhile, the ringgit is trading low compared to a group of major currencies.
It eased against the Japanese yen to 2.9534/2.9560 from Monday's close of 2.9508/2.9535, fell against the British pound to 5.9717/5.9764 from 5.9679/5.9730 previously and eased against the euro at 1.056/5 54.
The ringgit, however, is mostly higher than its Asean peers.
It eased against the Thai baht to 12.8669/12.8811 from 12.8383/12.8541 on Monday. However, the local currency rose against the Singapore dollar to 3.4803/3.4832 from 3.4811/4843 at Monday's close, rose against the Indonesian rupiah to 287.1/287.4 from 287.3/287.7 previously and remained unchanged against the Philippine peso at 8.01/8.
