The ringgit started Thursday's trading session on a stronger footing against the US dollar, rising on improved domestic sentiment amid rising global market developments.
At 10am, the ringgit was at 4.2230, up 0.14% against the US dollar since it opened early in Asian trading on Thursday.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said renewed trade tensions between the United States and China had weighed on the dollar's strength.
The US Dollar Index (DXY) fell 0.26% to 98.793 points, as the escalating trade conflict is expected to strengthen the possibility of an interest rate cut by the US Fed.
He added that the ringgit is expected to remain strong, with the USD/MYR exchange rate likely to hover around RM4.22 to RM4.23.
Despite the stronger performance against the US dollar, the local currency was mostly traded lower against several major currencies.
It appreciated against the euro to 4.9165/9410 from 4.9213/9272 previously but depreciated against the British pound to 5.6579/6860 from 5.6469/6535 and depreciated against the Japanese yen to 2.7957/8097 from 2.7948/7983.
Meanwhile, the ringgit gained ground against most ASEAN currencies.
It strengthened against the Thai baht to 12.9708/13.0425 from 12.9933/13.0151, rose against the Singapore dollar to 3.2585/2749 from 3.2648/2689, rose against the Indonesian rupiah to 254.7/256.0 from 255.0/255.0 and appreciated against the Philippine peso to 7.27/7.31 from 7.29/7.30.
