Kuala lumpur: The ringgit opened marginally higher against the US dollar on Thursday, extending its recent gains as improved regional sentiment supported emerging Asian currencies. At 8 am, the ringgit was quoted at 4.1475/1590 to the greenback, compared with Wednesday's close of 4.1480/1530.
According to BERNAMA News Agency, Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid stated that the currency's mild uptick followed renewed uncertainty in the United States after unexpected delays in the release of key economic data. He noted that the US dollar index climbed 0.65 percent to 100.202 following the US Bureau of Labour Statistics' announcement to postpone the publication of October's employment report to December 16.
Dr Mohd Afzanizam highlighted that such a delay implies the US Federal Reserve might not cut interest rates when it convenes on December 9 and 10, 2025, as it is still 'flying blind.' Furthermore, minutes from the Federal Open Market Committee's October meeting indicated a general inclination among members to maintain steady rates for the remainder of 2025.
Back home, Dr Mohd Afzanizam mentioned that the ringgit had already demonstrated resilience in the previous session, closing 0.31 percent firmer at 4.1505 against the US dollar, buoyed by profit-taking on the greenback. "Given the latest developments, the USD-MYR pair could trade between 4.15 and 4.17 today as participants may seek to lock in short-term gains ahead of upcoming US data releases," he added.
In early trade, the ringgit showed strength against a basket of major currencies. It appreciated against the yen to 2.6416/6490 from 2.6598/6632 at Wednesday's close, firmed versus the euro to 4.7858/7991 from 4.8013/8071, and advanced against the British pound to 5.4166/4317 from 5.4451/4516.
The ringgit traded mixed against ASEAN currencies. It rose against the Thai baht to 12.7741/8182 from 12.7977/8191 at Wednesday's close and improved versus the Singapore dollar to 3.1755/1845 from 3.1810/1851. The local note remained relatively unchanged against the Indonesian rupiah at 248.2/249.0 from 248.2/248.6, and hovered around 7.04/7.06 against the Philippine peso compared with 7.04/7.05 previously.