Kuala lumpur: The ringgit opened slightly firmer against the US dollar on Thursday as easing concerns over the United States' monetary policy outlook lifted sentiment following remarks by US Federal Reserve (Fed) officials on interest rates. At 8 am, the local currency strengthened to 4.0900/0965 against the greenback from 4.0920/0965 at Wednesday's close.

According to BERNAMA News Agency, Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid highlighted that market focus was on comments by new Fed chair Kevin Warsh at the European Central Bank (ECB) Forum. Warsh's remarks suggested that the US central bank was in no hurry to adjust interest rates, although he reiterated the bank's commitment to restoring price stability.

Mohd Afzanizam pointed out that softer-than-expected US economic data also supported the ringgit. He noted the ADP National Employment Report showed US private-sector employment increased by 98,000 in June, which was below market expectations of 118,000. "The report also suggests Americans are taking longer to find work, although there are signs of labour supply constraints in certain industries," he said.

At the opening, the ringgit was mostly lower against a basket of major currencies. It weakened against the British pound to 5.4303/4389 from 5.4203/4262 at Wednesday's close and slipped against the Japanese yen to 2.5160/5201 from 2.5144/5174 previously. However, it strengthened against the euro to 4.6532/6606 from 4.6600/6651 yesterday.

Against regional currencies, the local note showed mixed performance. It rose against the Philippine peso to 6.63/6.65 from 6.64/6.65 previously and edged up against the Indonesian rupiah to 227.8/228.3 from 227.9/228.3. However, it fell against the Thai baht to 12.2668/2944 from 12.2526/2708 yesterday and weakened against the Singapore dollar to 3.1564/1616 from 3.1555/1589 at Wednesday's close.