The ringgit ended a seven-day rally as it fell against the US dollar on investor caution ahead of Malaysia's first-quarter (1Q) 2026 Gross Domestic Product (GDP) data, which is expected to be released today.
At 10:18am, the ringgit was trading at 3.9440, down 0.36% since it opened early Friday in Asian trading.
Bank Muamalat Malaysia Bhd Chief Economist Dr Mohd Afzanizam Abdul Rashid said the market's focus is now on Malaysia's GDP performance, with most economists forecasting growth of 5.3 percent.
According to him, traders are expected to trade more cautiously as the data has the potential to support the ringgit's value if the country's economic growth records a positive performance.
Meanwhile, the US Dollar Index rose 0.36 percent to 98.874 points after US retail sales data for April 2026 showed that consumer spending in the country remained strong.
This situation put some pressure on emerging market currencies including the ringgit.
However, in early trading, the ringgit still showed strengthening against several major world currencies.
The ringgit rose against the Japanese yen to 2.4823/4856 from 2.4886/4907 previously.
The local currency also strengthened against the British pound to 5.2646/2712 from 5.3094/3135, in addition to increasing against the euro to 4.5855/5913 from 4.6009/6044 at Thursday's close.
Against regional currencies, the ringgit's performance was mixed.
The ringgit strengthened against the Singapore dollar to 3.0798/0842 from 3.0867/0893, and rose against the Thai baht to 12.1171/1392 from 12.1506/1652.
However, the ringgit weakened slightly against the Indonesian rupiah to 224.3/224.7 from 224.1/224.4 and depreciated against the Philippine peso to 6.38/6.39 from 6.37/6.38.
