KUALA LUMPUR: The ringgit opened almost flat against the US dollar today, due to a stronger greenback.
At 9.04am, the ringgit was at 4.1770/1810 against the greenback from Monday’s close of 4.1770/1800.
Sharp swings in market sentiments, precipitated by US President Donald Trump’s tweets, sudden tariff retaliation and then bouts of goodwill moves, have made it difficult to focus on the structural aspects of the macro-economy, said Maybank in its research note today.
“Add in confusion in oil markets, and we have a volatility party,” it added.
Meanwhile, the ringgit traded mixed against other major currencies.
The domestic unit rose against the British pound to 5.1928/1982 from 5.1970/2024 and strengthened against the yen at 3.8802/8850 from 3.8849/8891.
It fell against the euro to 4.5905/5953 from 4.5863/5913 and fell against Singapore dollar to 3.0316/0348 from 3.0301/0325.