The ringgit opened higher against the US dollar which weakened in early trading as the US Dollar Index (DXY) corrected after a significant jump.
At 10.20am, the ringgit was at 4.4670 which is 0.25% higher against the USD than it closed at 4.4765 at the end of Monday.
Recently, the US Dollar Index (DXY) fell 0.4% to 106.275 and the 10-year US Treasury yield fell to 4.41% from 4.44%.
Bank Muamalat Malaysia Bhd Chief Economist Afzanizam Rashid said the DXY correction was based on technical factors and stated that it had reached an overbought condition.
Meanwhile, the ringgit traded mostly lower against a group of major currencies.
It eased against the British pound to 5.6607/5.6829 from 5.6525/5.6594 and weakened against the euro to 4.7302/4.7488 from 4.7294/4.7352.
However, it appreciated against the Japanese yen to 2.8885/2.9002 from 2.8914/2.8953.
The local unit showed mixed movements against regional currencies.
It strengthened against the Philippine peso to 7.61/7.64 from 7.63/7.64 and widened against the Indonesian rupiah to 281.5/282.8 from 282.2/282.7.
Conversely, it weakened against the Singapore dollar to 3.3353/3.3486 from 3.3307/3.3351 and eased against the Thai baht to 12.8975/12.9631 from 12.8591/12.8808.
