Accra:The ringgit closed slightly lower against the US dollar on Tuesday as investors remained cautious ahead of the United States inflation data expected tomorrow, an analyst stated. At 6 pm, the ringgit eased to 4.0835/0880 against the greenback from Monday's close of 4.0820/0865.

According to BERNAMA News Agency, TA Securities chief economist Shazma Juliana Abu Bakar noted that the upcoming US inflation data could influence expectations for the Federal Reserve's monetary policy, potentially affecting the ringgit's near-term movements. Despite this, she predicted that the ringgit would remain relatively resilient throughout the week, buoyed by positive investor sentiment following Budget 2027 and the government's commitment to fiscal consolidation.

However, escalating geopolitical tensions in West Asia and elevated Brent crude oil prices could increase external uncertainties and sustain demand for the US dollar as a safe-haven currency, she told Bernama. At the close of trading, the ringgit was lower against a basket of major currencies, including the Japanese yen, British pound, and euro.

The local note fell against the Japanese yen to 2.5833/5864 from 2.5739/5769, edged down against the British pound to 5.4057/4177 from 5.4017/4077, and eased against the euro to 4.5654/5704 from 4.5637/5687. It also decreased against the Indonesian rupiah but remained unchanged against the Philippine peso. Additionally, the ringgit edged down against the Singapore dollar and slid against the Thai baht.