The ringgit continued its downward trend against the US dollar despite opening slightly higher following a brief dip after a surge following US election sentiment.
The temporary price correction provided some support for the ringgit and now market participants will reassess positions due to recent currency fluctuations.
At 12.20am, the ringgit was at 4.4250 which is down 0.41% against the US dollar from where it closed at 4.4090 on Monday.
SPI Asset Management Managing Director Stephen Innes said that the strength of the US dollar had been supported by speculation surrounding the potential renewal of Trump-era tariffs.
The stimulus generally does not provide economic benefits for Asean countries.
At the opening, the ringgit was mostly higher against a basket of major currencies.
It rose against the British pound to 5.6735/5.6890 from 5.6872/5.6910 and rose against the euro to 4.6998/4.7126 from 4.7088/4.7120 at Monday's close.
However, it was marginally lower against the Japanese yen, falling to 2.8705/2.8785 from 2.8701/2.8722 previously.
The ringgit is trading higher against Asean currencies.
It strengthened against the Singapore dollar at 3.3056/3.3151 from 3.3120/3.3148 and rose against the Thai baht at 12.7698/12.8138 from 12.8243/12.8390 at Monday's close.
It was almost unchanged against the Philippine peso at 7.52/7.54 from 7.52/7.53 and was also mostly stable against the Indonesian rupiah at 280.9/281.8 from 280.9/281.3 previously.
