The ringgit opened higher against the US dollar on Monday, rebounding after two consecutive sessions of losses, amid growing concerns over the impact of US tariffs on the domestic and global economies.
At 10am, the ringgit was at 4.2400, down 0.12% against the US dollar since it opened in early trade on Monday.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the ringgit is expected to maintain its narrow range trading around 4.24 to 4.25 against the US dollar.
The ringgit will continue to be traded cautiously ahead of the release of US Consumer Price Index (CPI) data this week.
Meanwhile, US President Donald Trump's proposed tariffs on semiconductors and pharmaceuticals, the latest in a series of moves that threaten to upend international trade, are expected to weigh on risk asset sentiment.
At the same time, investors are closely monitoring rising tensions in the BRICS bloc and signs of emerging tensions in the fragile US-China trade truce.
At the open, the ringgit traded higher against major currencies.
It rose against the yen to 2.8693/8796 from 2.8720/8763 at Friday's close, rose against the euro to 4.9343/9517 from 4.9381/9451 and rose against the British pound to 5.6951/7153 from 5.7034/7114.
The ringgit also rose against its regional peers.
It rose against the Singapore dollar to 3.2966/3086 from 3.3014/3064, surged against the Thai baht to 13.0801/1381 from 13.1173/1419, was higher against the Indonesian rupiah at 260.0/261.0 from 260.3/260 and rose against the Philippine peso to 7.42/7.45 from 7.43/7.44, previously.
