Malaysian Traders were cautious over the ringgit on market optimism has reached, the local unit was quoted at 3.9350/9390.

Malaysia: The ringgit opened slightly lower against the US dollar today due to better demand for the greenback.

As at 9.14 am, the local unit was quoted at 3.9350/9390 against the US dollar from 3.9310/9350 recorded at close yesterday.

A dealer said some traders were cautious over the ringgit on market optimism that the US Federal Reserve would raise interest rates in June.

Meanwhile, the ringgit traded mostly lower against a basket of major currencies, except against the British pound, where it rose to 5.3410/3484 from 5.3462/3528.

It fell against the Singapore dollar to 2.9553/9594 from 2.9536/9578 yesterday, declined against the yen to 3.6045/6088 from 3.5886/5930 and was lower against the euro at 4.7145/7209 from 4.7133/7189.

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