KUALA LUMPUR: The ringgit opened slightly higher against the US dollar in early trade today, as volatility in global markets dimmed prospects for US interest rate increase.

At 9am, the ringgit was traded higher at 4.4450/4500 against the greenback from 4.4540/4590 at 5pm on Tuesday.

The local note touched 4.4800 yesterday, the weakest level since January 1998, and has plunged almost 16 per cent since June 30.

Kenanga Research said the US dollar index fluttered around flat and was last off 0.15 per cent as dealers treaded carefully ahead of Friday's US jobs data, which would likely to confirm the relative vigour of America's labour market.

The ringgit was traded higher against a basket of major currencies.

It rose against the Singapore dollar to 3.1160/1200 from 3.1175/1221 on Tuesday.

It appreciated against the yen at 3.7029/7077 from 3.7126/7183 yesterday.

The local note increased against the euro to 4.9966/0031 from 5.0001/0066 yesterday and strengthened against the pound sterling to 6.7328/7422 from 6.7661/7759 on Tuesday. --BERNAMA