The local currency, the ringgit, continued its upward trend in early trading on Tuesday against the US dollar following the attraction of buying interest when there was a decline in the US Dollar Index (DXY).
At 10.20 am, the ringgit was at 4.3300, which is positive 0.69% against the US dollar from where it closed at 4.3615 at the end of Monday's trading.
According to Bank Muamalat Malaysia Bhd's chief economist, Dr Mohd Afzanizam Abdul Rashid, the DXY fell 0.46% to 99.010 points as the United States (US) business was negatively affected by US import tariffs.
He added that the ringgit is expected to remain positive with the attraction of a tight range remaining high throughout today's trading.
The USD/MYR pair showed a high support position and the next target level was at 4.2607.
Meanwhile, the ringgit traded lower against a group of major currencies.
It fell against the Japanese yen to 3.0657/0718 from 3.0406/0443 at Monday's close, weakened against the euro to 4.9722/9813 from 4.9507/9564 yesterday, and depreciated against the British pound to 5.8552/8660 from 5.8195/8262 previously.
Against its ASEAN peers, the ringgit also performed more subdued and flat.
It fell against the Singapore dollar to 3.3284/3350 from 3.3198/3238 at Monday's close and fell against the Thai baht to 13.0619/0945 from 12.9517/9743.
The local note, however, traded almost flat against the Philippine peso to 7.72/7.74 from 7.73/7.74 on Monday, and little changed against the Indonesian rupiah to 258.5/259.1 from 258.7/259.1.
