The ringgit continued its positive rise at the beginning of the week, supported by the strengthening sentiment of the Malaysian economy, as well as the easing of trade tensions.
At 10:42 am, the ringgit opened at 4.0870, strengthening by 0.15% against the US dollar since opening at the beginning of Monday's Asian session.
Bank Muamalat Malaysia Bhd's Chief Economist, Dr Mohd Afzanizam Abdul Rashid explained that the ringgit is expected to remain in a narrow range today after recording a strong performance last week.
He also noted that the interest rate cut by the Federal Reserve (Fed) last week was not based on the decision of the majority of Fed members, with two policymakers choosing to keep interest rates unchanged due to concerns over inflation.
Meanwhile, the Industrial Production Index (IPP) data from the Department of Statistics Malaysia last Friday showed an increase of 6.0% in October 2025, supported by a 6.5% increase in the manufacturing sector.
Investors are also expected to remain cautious ahead of the November NFP jobs report. This week's focus will be on the November NFP jobs report this week.
At the open, the ringgit traded higher against other major currencies.
It rose against the Japanese yen to 2.6246/6318 from 2.6264/6304, strengthened against the British pound to 5.4670/4817 from 5.4789/4869 and gained against the euro to 4.8007/8136 from 4.8037/8107 previously.
The ringgit was also mixed against ASEAN currencies.
It rose against the Singapore dollar to 3.1677/1765 from 3.1701/1750 last Friday and rose marginally against the Indonesian rupiah to 245.8/246.6 from 245.9/246.4.
However, it declined against the Thai baht to 12.9624/13.0050 from 12.9589/9845 and was unchanged against the Philippine peso at 6.93/6.95 from 6.93/6.94 previously.
