The ringgit weakened slightly against the US dollar on Wednesday, weighed down by a stronger greenback on improving US consumer confidence and continued concerns over global tariff developments.
At 10am, the ringgit was at 4.2490, down 0.33% against the US dollar from its close of 4.2345 at Tuesday's close.
Bank Muamalat Malaysia Bhd chief economist Dr Afzanizam Rashid said the US Dollar Index (DXY) rose 0.59% to 99.521 points last night, reflecting a modest recovery despite remaining below the 100-point mark.
The rise tracked the latest US Conference Board Consumer Confidence Index, which rose to 98 points, largely driven by stronger stock market performance since early April and surging petrol prices.
Meanwhile, the ringgit was trading higher against a basket of major currencies.
It rose against the Japanese yen to 2.9391/2.9500 from 2.9425/2.9486, rose against the euro to 4.8012/4.8182 from 4.8053/4.8150, and appreciated against the British pound to 5.7228/5.7430 from 5.7352/5.7467 previously.
The local note traded mixed against its Asean peers.
It rose against the Singapore dollar to 3.2870/3.2989 from 3.2894/3.2963, but fell against the Thai baht to 12.9471/13.0025 from 12.9365/12.9676 at yesterday's close.
The ringgit was unchanged against the Philippine peso at 7.62/7.65 from 7.62/7.64 previously. It was also unchanged against the Indonesian rupiah at 259.9/261.0 from 259.9/260.6.
