Kuala lumpur: The ringgit was firmer against the US dollar in the early session, supported by weaker-than-expected US consumer confidence data that weighed on the greenback. Meanwhile, investors remained cautious ahead of the release of the US nonfarm payrolls report later this week.

According to BERNAMA News Agency, at 8.01 am, the local currency rose to 4.0775/0870 against the greenback from Tuesday's close of 4.0825/0870. Bank Muamalat Malaysia Bhd chief economist Dr. Mohd Afzanizam Abdul Rashid noted that the US Conference Board Consumer Confidence Index registered 91.2 points in June, falling short of the consensus estimate of 94.4 points.

Dr. Mohd Afzanizam commented on the market's outlook, stating, "Today, expect the ringgit to remain cautious ahead of the nonfarm payrolls report tomorrow night, with consensus pegging at 114,000 in June versus 172,000 in May." He added that market sentiments are primarily focused on the US Federal Reserve's upcoming decision on a rate hike, largely overlooking crude oil prices, where West Texas Intermediate and Brent crude are currently around US$69.50 per barrel and US$72.92 per barrel, respectively.

At the opening, the ringgit traded mostly higher against a basket of major currencies. It gained against the British pound, advancing to 5.4027/4153 from 5.4036/4096 at Tuesday's close, while it slightly eased versus the euro to 4.6537/6645 from 4.6528/6580 and appreciated against the Japanese yen at 2.5066/5126 from 2.5154/5183 the previous day.

The local note showed mixed performance against regional currencies. It appreciated against the Singapore dollar to 3.1499/1577 from 3.1532/1570 at Tuesday's close, remained almost flat against the Indonesian rupiah at 227.7/228.3 from 227.9/228.3, and was stable against the Philippine peso at 6.64/6.67 from 6.65/6.67.