The ringgit rose in early trading against the US dollar as investors remained cautious ahead of the release of US labor data on Thursday night.
At 10.30am, the ringgit was at 4.4800 which is 0.27% higher against the US dollar than it closed at 4.4950 during Wednesday's close.
According to Bank Muamalat Malaysia Bhd's Chief Economist, Dr Afzanizam said market sentiment is expected to remain under control with investors closely monitoring high-impact data such as Initial Unemployment Claims to assess the Fed's next move.
Additionally, the benchmark US equity index showed concern about the prospect of a possible recession in the United States which may prompt the Fed to cut rates lower.
He also said that the ringgit is expected to maintain its tight range throughout Thursday's trading.
Meanwhile, the ringgit traded mostly lower against a basket of major currencies, falling against the Japanese yen to 3.0704/3.0756 from 3.0464/3.0509 and weak against the euro to 4.9084/4.9161 from 4.9054/4.9119 previously.
It rose against the British pound to 5.6968/5.7056 from 5.7122/5.7199 at Wednesday's close.
At the same time, the ringgit traded mixed against Asean currencies.
It eased against the Singapore dollar to 3.3856/3.3911 from 3.3853/3.3901, firmed against the Indonesian rupiah to 280.0/280.7 from 280.2/280.8 and firmer against the Philippine peso at 7.80/7.82 from 8.31/7.
The ringgit was also lower against the Thai baht at 12.6091/12.6380 from 12.5999/12.6230 at Wednesday's close.
