The ringgit opened weaker against the United States (US) dollar on Tuesday as the currency king regained strength, supported by a rebound in the Dollar Index (DXY) after a recent decline.
At 10.25am, the ringgit was at 4.4630, down 0.34% from its close of 4.4495 at the end of Monday's trading.
Bank Muamalat Malaysia Bhd Chief Economist Dr Mohd Afzanizam Abdul Rashid said the market had responded positively to the news of hedge fund manager Scott Bessent being nominated to head the US Treasury Department.
He said the development had fostered risk-on sentiment.
The ringgit may benefit from a potential shift away from the US dollar to other emerging market currencies.
Meanwhile, the ringgit traded mostly higher against a group of major currencies.
It appreciated against the British pound to 5.5862/6000 from 5.5939/6033 and rose against the euro to 4.6548/6662 from 4.6662/6741 at Monday's close.
However, it edged lower against the Japanese yen to 2.8880/8955 from 2.8811/8861.
The local unit traded mostly lower against Asean currencies.
It fell against the Singapore dollar to 3.3032/3118 from 3.3028/3088, depreciated against the Philippine peso to 7.56/7.58 from 7.54/7.56 and depreciated against the Indonesian rupiah to 280.7/281.5 from 280.1/280.
However, it increased against the Thai baht to 12.8361/8818 from 12.8390/8670.
