Kuala Lumpur: The ringgit opened lower against the US dollar on Thursday, tracking gains in the US dollar index (DXY), as markets responded to signs that President Donald Trump may be softening his stance on tariff policy. At 8 am, the local unit stood at 4.3970/4100 against the greenback, slightly easier than Wednesday’s close of 4.3880/3925.

According to BERNAMA News Agency, the DXY rose 0.95 percent to 99.857 points, while the two-year US Treasury yield climbed five basis points to 3.87 percent. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid noted that markets reflected a sense of relief as the Trump administration signaled it might ease tariffs on Chinese imports. He mentioned that this move is perceived as an effort to bring China back to the negotiating table, though uncertainty surrounding trade policy remained elevated. Dr. Rashid commented that the US dollar-ringgit might trade within a range of RM4.39 to RM4.40 today.

Back home, the ringgit strengthened against a basket
of major currencies. It rose against the Japanese yen to 3.0701/0796 from 3.0925/0959 at Wednesday’s close, gained on the British pound to 5.8317/8490 from 5.8457/8517, and advanced versus the euro to 4.9805/9952 from 5.0102/0154.

Against regional currencies, the ringgit traded mixed. It firmed against the Singapore dollar to 3.3478/3515 from 3.3523/3579, and strengthened versus the Thai baht to 13.0922/1403 from 13.1251/1457. However, it eased against the Philippine peso to 7.77/7.80 from 7.75/7.77 and slipped slightly against the Indonesian rupiah to 260.5/261.5 from 260.0/260.5.