The ringgit edged up to 4.0570/4.0625 against the greenback, reflecting continued positive sentiment in the local currency.
At 8am, the ringgit edged up to 4.0570/4.0625 against the greenback from Thursday’s close of 4.0575/4.0620.
The local currency was trading near a seven-week high, following a previous opening level of 4.0560 recorded on Sept 9, 2026.
Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said the US Dollar Index fell 0.33% to 101.854 points.
He said the decline came despite better-than-expected US gross domestic product growth in the third quarter of 2026 and a higher personal consumption expenditure inflation rate in September.
Afzanizam said the two-year and 10-year US Treasury yields also fell by 10 and eight basis points to 4.60% and 4.94%, respectively.
“Hence, we believe the market is pricing in the possibility that the Federal Reserve (Fed) might change its direction on monetary policy.
“As such, the ringgit is likely to maintain its positive trend in the near term, given the limited scope for further Fed monetary tightening. The ringgit-US dollar pair could therefore hover between RM4.05 and RM4.07 today,” he told Bernama.
Against other major currencies, the ringgit traded lower at the opening.
It weakened against the British pound to 5.4275/5.4348 from 5.4009/5.4069 at Thursday’s close, and slipped against the euro to 4.5365/4.5427 from 4.5176/4.5226.
It also edged lower against the Japanese yen to 2.5707/2.5743 from 2.5685/2.5715 previously.
Against its Asean peers, the ringgit traded mixed.
It was little changed against the Indonesian rupiah at 223.6/224.0 from 223.7/224.0 at Thursday’s close, and remained flat against the Philippine peso at 6.35/6.36.
Meanwhile, the ringgit eased against the Singapore dollar to 3.1700/3.1746 from 3.1665/3.1702 at yesterday’s close, and slipped against the Thai baht to 12.0279/12.0513 from 12.0165/12.0345. - FMT
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