Kuala Lumpur: The ringgit saw a decline against the US dollar at the close today, having recently reached a nearly three-week high. This decrease underscores the struggle of breaking below the RM4.40 mark following US President Donald Trump's confirmation that tariffs on Mexico and Canada would continue as initially planned.

According to BERNAMA News Agency, by 6 pm, the ringgit had fallen to 4.4210/4255 from Monday's closing rate of 4.4080/4110. Bank Muamalat Malaysia Bhd's chief economist, Dr. Mohd Afzanizam Abdul Rashid, highlighted the rise in the US Dollar Index (DXY) to 106.632 points, indicating the growing strength of the US dollar.

Dr. Afzanizam remarked that the one-month deadline for delaying tariffs on Canada and Mexico is nearing, with President Trump seemingly ready to increase tariffs unless concessions are made. Furthermore, the Trump administration is expected to heighten its measures against China by limiting microchip exports and encouraging US allies to follow suit. "It is a back-and-forth situation regarding tariff concerns, and intermittently, it exerts pressure on the currency markets," he told Bernama.

In addition to its performance against the US dollar, the ringgit also weakened against other major currencies. It declined against the Japanese yen to 2.9552/9584 from 2.9471/9495, fell against the British pound to 5.5806/5863 from 5.5704/5742, and dropped against the euro to 4.6301/6348 from 4.6156/6188.

The ringgit showed varied performance against ASEAN currencies. It depreciated against the Singapore dollar to 3.2997/3034 from 3.2950/2975 and weakened against the Philippine peso to 7.63/7.64 from 7.62/7.63. Conversely, it appreciated against the Thai baht to 13.1132/1324 from 13.1508/1672 and rose against the Indonesian rupiah to 270.0/270.4 from 270.7/271.1.