KUALA LUMPUR: The ringgit snapped a three-day losing streak to open higher against the US dollar today, as the market awaits any potential hint of a US interest rate hike tomorrow, a dealer said.

At 9.01am, the ringgit was quoted at 4.0320/0370 against the greenback from 4.0350/0420 on Wednesday.

FXTM Corporate Development and Market Research Vice-President Jameel Ahmad said most investors were awaiting the scheduled speech from Federal Reserve Chair Janet Yellen tomorrow.

“Obviously, everyone across the financial markets is eagerly waiting for any clues on the possible US interest rate policy outlook, or if the Federal Reserve is indeed serious about raising interest rates in the coming months.

“This might explain why volatility has quietened down to date this week,” he added in a statement.

Meanwhile, the local currency strengthened against a basket of major currencies, except for the British pound.

The local note improved against the euro to 4.5453/5513 from 4.5515/5721 on Wednesday and improved against the Singapore dollar to 2.9767/9826 from 2.9805/9879.

It fell against the British pound to 5.3452/3539 from 5.3343/3455, but rose against the yen to 4.0135/0197 from 4.0240/0331.