Ringgit eases against US dollar ahead of US inflation figures
The ringgit is expected to remain resilient this week, buoyed by positive investor sentiment following Budget 2027 and the government’s commitment to fiscal consolidation, says an analyst.
KUALA LUMPUR: The Malaysian ringgit dipped slightly against the US dollar on Tuesday due to investors' cautious approach as they await tomorrow's US inflation data, according to an analyst. By 6 pm, the ringgit dropped to 4.0835/4.0880 against the US dollar, down from last Monday's close of 4.0820/4.0865. TA Securities chief economist Shazma Juliana Abu Bakar noted that the data could impact expectations for the Federal Reserve's monetary policy decisions and, in turn, affect the ringgit's short-term movements.
However, she believes the ringgit should stay relatively stable throughout the week, buoyed by the positive investor sentiment following Budget 2027 and the government's ongoing dedication to fiscal consolidation. Abu Bakar cautioned that soaring geopolitical tensions in the Middle East and rising Brent crude oil prices could increase external uncertainties and maintain demand for the US dollar as a safe-haven currency.
By the close, the ringgit traded lower against a range of major currencies. It fell against the Japanese yen, fell against the British pound, slipped against the euro, declined against the Indonesian rupiah, remained stable against the Philippine peso, edged down against the Singapore dollar, and slid against the Thai baht.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
