THE ringgit opened slightly weaker against the US dollar on Tuesday, pressured by profit-taking after the US Dollar Index (DXY) climbed 0.73% overnight to 98.430.
The local currency was quoted at 4.2080/2175 at 8am, compared with Monday’s close of 4.2045/2105.
Bernama reported Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid saying that traders were adopting a cautious stance ahead of Friday’s release of the US Personal Consumption Expenditures (PCE) index. Consensus forecasts suggest the index will remain unchanged at 2.6% for July.
“On that note, the USD/MYR could see similar moves as traders may look to lock in profits. The ringgit is likely to trade between 4.20 and 4.23 against the dollar today, as markets stay wary ahead of the PCE report on Friday,” he told Bernama.
Despite its softer performance against the greenback, the ringgit opened higher against several major currencies. It strengthened against the euro to 4.8859/8969 from 4.9163/9233, improved against the Japanese yen to 2.8467/8533 from 2.8534/8577, and appreciated against the British pound to 5.6593/6721 from 5.6740/6821.
The local note was little changed against the Singapore dollar at 3.2714/2790 from 3.2761/2810, and remained flat against the Philippine peso at 7.41/7.44. It also gained slightly against the Thai baht to 12.9437/9805 from 12.9561/9801, though it slipped marginally versus the Indonesian rupiah to 258.7/259.5 from 258.5/259.1. - August 26, 2025
