At 8am, the ringgit climbed to 4.1200/4.1300 versus the greenback compared to Tuesday’s close of 4.1275/4.1330.

Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said the ringgit is expected to extend its narrow range trade today due to a lack of fresh leads.

He said the US Dollar Index (DXY) was down 0.06%t to 99.357 points as the odds for an interest rate cut is more than 90%.

“Today, expect ringgit to linger between RM4.12 and RM4.13,” he added.

At the opening, the ringgit trended higher against a basket of major currencies.

It appreciated versus the British pound to 5.4466/5.4599 from 5.4528/5.4667 at Tuesday’s close, slightly up against the euro to 4.7907/4.8024 from 4.7916/4.8038 and improved vis-a-vis the Japanese yen to 2.6451/2.6517 from 2.6545/2.6616.

The local note traded mixed against Asean currencies.

It gained versus the Singapore dollar to 3.1788/3.1870 from 3.1836/3.1919 at Tuesday’s close and strengthened vis-à-vis the Thai baht to 12.8625/12.9058 from 12.8868/12.9296.

The ringgit dipped against the Indonesian rupiah to 247.8/248.5 from 247.6/248.4 and was little changed against the Philippine peso at 7.04/7.06 from 7.05/7.07 yesterday.