Kuala lumpur: The ringgit opened firmer against the US dollar and other major currencies on Wednesday, supported by a softer greenback following weaker US economic data and improved global risk appetite. At 8 am, the ringgit strengthened to 3.8895/9000 against the US dollar from Tuesday's close of 3.8915/8980.

According to BERNAMA News Agency, Bank Muamalat Malaysia Bhd Chief Economist Dr Mohd Afzanizam Abdul Rashid noted that the US Dollar Index edged up 0.17 per cent to 97.874 points. This movement was driven by hawkish remarks from the Federal Reserve and indications of resilience in parts of the US economy. The US dollar-ringgit pair briefly traded above RM3.90 before closing at RM3.8948, marking a drop of 0.11 per cent from the previous session. Dr Mohd Afzanizam suggested that the ringgit is likely to trade sideways, hovering between RM3.89 and RM3.90.

At the opening, the ringgit showed gains against a basket of major currencies. It slightly increased against the Japanese yen to 2.4944/5014 from 2.4968/5011 at Tuesday's close, strengthened against the British pound to 5.2489/2631 from 5.2531/2619, and appreciated against the euro to 4.5799/5923 from 4.5873/5950.

In terms of ASEAN currencies, the ringgit traded mostly firmer. It rose against the Singapore dollar to 3.0699/0786 from 3.0726/0780, gained versus the Thai baht to 12.5060/5495 from 12.5463/5726, was marginally higher against the Indonesian rupiah at 231.1/231.8 from 231.2/231.7, and edged up against the Philippine peso to 6.73/6.75 from 6.74/6.75 previously.