Kuala lumpur: The ringgit opened higher against most major currencies on Tuesday but eased against the US dollar, weighed down by market sentiment amid lingering uncertainty over US-Iran negotiations. At 8 am, the local currency was at 4.0850/0900 against the greenback from 4.0835/0875 at Monday's close.

According to BERNAMA News Agency, Bank Muamalat Malaysia Bhd chief economist Dr. Mohd Afzanizam Abdul Rashid noted that the odds are for an interest rate rise in the US, which will lead to a rise in the value of the greenback. The Federal Open Market Committee (FOMC) meeting, scheduled for today and tomorrow, is a focal point for traders and investors, and the ringgit-US dollar pair is anticipated to continue trading within a narrow range today.

The ringgit showed gains against a basket of major currencies at the opening. It edged up against the Japanese yen to 2.4940/4973 from 2.4969/4994 at yesterday's close, appreciated against the euro to 4.6438/6495 from 4.6536/6581, and rose versus the British pound to 5.4281/4348 from 5.4433/4486 previously.

Regionally, the ringgit presented a mixed performance against other currencies. It strengthened against the Singapore dollar to 3.1627/1669 from 3.1653/1686 and ticked up against the Thai baht to 12.1379/1589 from 12.1612/1775. Conversely, the local currency weakened against the Indonesian rupiah to 226.8/227.2 from 226.7/227.0 and remained flat against the Philippine peso at 6.62/6.63.