Kuala Lumpur:The ringgit opened lower against major currencies, including the US dollar, as weaker US consumer data negatively impacted investor sentiment and reduced risk appetite in the foreign exchange market.

According to BERNAMA News Agency, at 8.02 am, the ringgit fell to 4.0795/0850 against the US dollar from Tuesday's close of 4.0790/0850. Bank Muamalat Malaysia Bhd chief economist Dr. Mohd Afzanizam highlighted that the Conference Board's Confidence Index dropped to 81.9 points in September, marking the lowest level since April 2014.

Dr. Mohd Afzanizam noted that survey responses indicated that most Americans linked high costs of goods and services, particularly oil and gas prices, to increased pessimism. Additionally, the Job Openings and Labour Turnover Survey (JOLTS) reported a decline in August to 7.079 million, falling short of the consensus estimate of 7.23 million.

He pointed out that despite the declining trend since April, the US Dollar Index (DXY) rose by 0.17 percent to 101.372 points, as US Federal Reserve officials maintained a hawkish stance on monetary policy.

At the opening, the ringgit also weakened against a basket of major currencies. It dropped against the euro to 4.6257/6320 from 4.6235/6303 at Tuesday's close, fell against the British pound to 5.3960/4032 from 5.3937/4016, and edged down versus the Japanese yen to 2.5921/5958 from 2.5869/5909.

The ringgit also weakened against ASEAN currencies, falling against the Singapore dollar to 3.1921/1969 from 3.1885/1934 and easing against the Thai baht to 12.1540/1759 from 12.1402/1632. It remained relatively stable against the Indonesian rupiah at 226.9/227.2 from 226.8/227.2 and was unchanged against the Philippine peso at 6.52/6.53.