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THE local note opened slightly weaker against the US dollar on Tuesday, as traders adjusted positions following its recent rally.
At 8 am, the local currency was quoted at 4.1485/1595 against the greenback, marginally softer than Monday’s close of 4.1480/1515.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashiddescribed the move as a natural technical correction.
"Having said that, ringgit should remain constructive in the mid- to long-term, underpinned by resilient economic growth and narrowing fiscal deficits, which can be deemed credit-positive by credit rating agencies," he told Bernama.
He added that traders could expect the USD/MYR to trade within the 4.14 to 4. 15 range today as markets await upcoming US economic data.
The US Dollar Index (DXY) firmed by 0.24 per cent to 99.53 points, reflecting fading market expectations of a potential US interest rate cut in December.
Afzanizam noted that the US Federal Reserve remains cautious on timing any policy easing, prompting investors to focus on the September Nonfarm Payroll data, due on Thursday, for clearer economic guidance.
"The Fed’s reluctance to cut rates has supported the US dollar, keeping the ringgit range-bound for now," he added.
Against other major currencies, the ringgit recorded mixed movements. It strengthened against the Japanese yen to 2.6720/6792 from Monday’s 2.6805/6829, appreciated versus the euro to 4.8077/8204 from 4.8125/8166, and rose slightly against the British pound to 5.4561/4706 from 5.4608/4654.
Within the ASEAN region, the ringgit gained ground against the Thai baht, climbing to 12.7697/8111 from 12.7847/8018, and edged higher versus the Singapore dollar to 3.1836/1922 from 3.1864/1893.
It remained largely unchanged against the Indonesian rupiah at 247.8/248.6, and was almost flat against the Philippine peso at 7.04/7.06. - November 18, 2025