Ringgit extends gains against US dollar in early trade

KUALA LUMPUR (Sept 1): The ringgit extended Monday’s gains against the US dollar to open higher today after the United States (US) economy showed signs of short-term weakness, a dealer said.

At 9.04 am, the local note rose to 4.1460/1490 versus the greenback from Monday’s close of 4.1530/1575.

OANDA senior market analyst Edward Moya said the COVID-19 Delta variant’s impact on the US’ economy might be greater than anticipated, which does not bode well for third-quarter spending.-BERNAMA