KUALA LUMPUR: The ringgit closed slightly lower against the US dollar on Tuesday as investors remained cautious ahead of the US inflation data due tomorrow, an analyst said.
At 6pm, the ringgit eased to 4.0835/4.0880 against the greenback from Monday’s close of 4.0820/4.0865.
TA Securities chief economist Shazma Juliana Abu Bakar said the data could influence expectations for the Federal Reserve’s monetary policy direction and, consequently, near-term movements in the ringgit.
However, she said the ringgit is expected to remain relatively resilient throughout this week, supported by positive investor sentiment following Budget 2027 and the government's continued commitment to fiscal consolidation.
“Yet, escalating geopolitical tensions in the Middle East and elevated Brent crude oil prices could heighten external uncertainties and sustain demand for the US dollar as a safe-haven currency,” she told Bernama.
At the close, the ringgit traded lower against a basket of major currencies.
The local note was lower against the Japanese yen to 2.5833/2.5864 from 2.5739/2.5769 at Monday’s close, inched down against the British pound to 5.4057/5.4177 from 5.4017/5.4077 and eased against the euro to 4.5654/4.5704 from 4.5637/4.5687.
Against its Asean peers, the local currency decreased against the Indonesian rupiah to 228.1/228.4 from 227.9/228.2, but remained unchanged against the Philippine peso at 6.50/6.51.
It edged down against the Singapore dollar to 3.1902/3.1940 from 3.1873/3.1911 at Monday’s close and slid against the Thai baht to 12.1663/12.1844 from 12.1391/12.1568.