The ringgit rebounded to open slightly higher against the US dollar and major currencies, even as the greenback showed an upward trend amid the US-Ukraine talks.
At 10.30am, the ringgit was at 4.2240, down 0.09% against the US dollar since it opened early Tuesday in the Asian session.
Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said investors were focused on the ongoing talks between US President Donald Trump and Ukrainian President Volodymyr Zelensky, as well as the upcoming US Federal Reserve (Fed) interest rate decision.
Most recently, Donald Trump met with Zelenskiy before holding talks with the leaders of Britain, Germany, France, Italy, Finland, the European Union and the North Atlantic Treaty Organization (NATO).
In addition, the US Dollar Index (DXY) rose ahead of the minutes of the US Fed meeting and the Jackson Hole Economic Symposium this week.
Meanwhile, the ringgit opened higher against a basket of major currencies this morning.
It strengthened against the Japanese yen to 2.8520/2.8610 from Monday's close of 2.8632/2.8661, improved against the British pound to 5.6986/5.7162 from 5.7139/5.7193 yesterday and rose against the euro to 4.9227/4.9379 from 4.9290/4.9336 previously.
Meanwhile, the local currency traded mixed against other Asean currencies.
It rose against the Singapore dollar to 3.2845/3.2949 from 3.2902/3.2936 at Monday's close and rose against the Thai baht to 12.9648/13.0127 from 12.9942/13.0121 yesterday.
