The ringgit opened higher against the US dollar following its weakness as the latest US economic data reinforced expectations for interest rate cuts in the United States.
At 10.30am, the ringgit was at 4.3160, up 0.39% against the USD from where it closed at 4.3330 at the close of trading on Thursday.
Bank Muamalat Malaysia Bhd Chief Economist Dr Afzanizam said the US Dollar Index (DXY) fell 0.31% to 101.366.
The market is expected to experience a significant movement ahead of the US rate cut next week.
He also said that he expects the ringgit to be well supported following the possibility of monetary easing when FOMC officials will decide on their decision at the September 17 to 18 meeting.
Meanwhile, the ringgit is trading low compared to a group of major currencies.
It fell against the euro to 4.7973/4.8056 from 4.7724/4.7768 at Thursday's close, fell against the British pound to 5.6864/5.6962 from 5.6550/5.6602 and eased against the Japanese yen to 3.0609/3.0666 from 3.0364/3.0395.
The ringgit traded mixed against Asean currencies.
It eased against the Thai baht to 12.9640/12.9931 from 12.8351/12.8527 and eased against the Singapore dollar to 3.3291/3.3351 from 3.3190/3.3224 yesterday.
It was slightly higher against the Indonesian rupiah at 280.4/281.1 from 280.6/281.0 and unchanged against the Philippine peso at 7.71/7.73.
