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THE ringgit is expected to trade cautiously next week, hovering between 4.00 and 4.05 against the US dollar, as investors remain wary amid ongoing uncertainties surrounding the conflict in Iran, now entering its fifth week.
Bank Muamalat Malaysia Bhd Chief Economist Dr Mohd Afzanizam Abdul Rashid noted that this comes in the wake of the latest United States Non-Farm Payroll data, released last night, which will influence the trajectory of the US Federal Funds Rate toward the end of April.
According to the US Bureau of Labour Statistics, the US economy added 178,000 jobs in March, surpassing expectations of 60,000.
However, February’s figures were revised downward to a decline of 133,000 jobs from the previously reported drop of 92,000.
The unemployment rate in the United States fell slightly to 4.3 per cent from 4.4 per cent.
“The latest data reinforced expectations that the Federal Reserve will remain patient before implementing any rate cuts amid persistent oil-driven inflation risks,” Afzanizam told Bernama.
This has prompted traders to temper expectations for rate reductions, increasingly anticipating a prolonged pause in interest rate adjustments, with rates expected to remain unchanged throughout 2026. Such a scenario could provide continued support for the US dollar.
Kenanga Investment Bank Bhd observed that the ringgit is likely to remain near 4.05 against the US dollar, as geopolitical tensions and supply risks weigh on sentiment.
“The ringgit is likely to weaken toward 4.05 against the US dollar as volatile geopolitical rhetoric and supply risks weighed on local sentiment,” the bank said. Conflicting reports of ceasefires followed by renewed escalations have caused sharp swings in risk appetite.
“Brent crude oil prices remaining above US$100 per barrel continue to stoke global inflation concerns and support the greenback.
“Consequently, investors maintain defensive US dollar positions while awaiting clarity on Iranian guarantees for regional shipping lanes,” Kenanga IB added.
On a week-on-week basis, the ringgit closed lower against the US dollar at 4.0295/0350 on Friday, compared with 4.0105/0140 the previous week.
The local currency also experienced mixed movements against other major currencies. It strengthened slightly against the British pound to 5.3326/3399 from 5.3368/3414, edged down versus the Japanese yen to 2.5247/5285 from 2.5084/5109, and eased against the euro to 4.6513/6576 from 4.6197/6237.
Against regional peers, the ringgit depreciated against the Singapore dollar to 3.1341/1389 from 3.1164/1194, fell versus the Thai baht to 12.3585/3841 from 12.1903/2077, declined against the Indonesian rupiah to 237.2/237.7 from 236.1/236.5, and softened versus the Philippine peso to 6.68/6.71 from 6.62/6.63.
Meanwhile Bernama - Xinhua reported today that the United States (US) dollar increased in the trading on Friday.
The dollar index, which measures the greenback against six major peers, went up 0.19 per cent to 100.218 at 3 pm (1900 GMT).
In late New York trading, the euro dropped to US$1.1515 from US$1.1544 in the previous session, and the British pound fell to US$1.3192 from US$1.3227 in the previous session.
The US dollar bought 159.65 Japanese yen, higher than 159.34 Japanese yen of the previous session.
The US dollar rose to 0.8008 Swiss francs from 0.7984 Swiss francs, and it climbed to 1.3944 Canadian dollars from 1.3921 Canadian dollars.
The US dollar added to 9.4828 Swedish kronor from 9.4234 Swedish kronor. - April 4, 2026