The ringgit moved negative against the US dollar at the opening of Monday's trade as USD demand improved amid global political and economic uncertainty.
At 10am, the ringgit was at 4.3970 with a 0.39% decline against the US dollar from where it closed at 4.3800 last Friday.
Bank Muamalat Malaysia Bhd Chief Economist Afzanizam Rashid said market sentiment remains cautious as traders continue to digest the potential impact on the wider economy when the US presidential candidate is inaugurated in January next year.
He also said there was disappointment over China's economic stimulus measures announced last week to boost domestic demand.
From a technical point of view, the ringgit is already oversold indicating that the downside risk is limited.
Meanwhile, the ringgit traded mixed against a group of major currencies.
It rebounded against the British pound to 5.6628/5.6815 from 5.6943/5.7255 recorded last Friday and rose against the euro at 4.6977/4.7132 from 4.7347/4.7606 previously.
However, it eased slightly against the Japanese yen to 2.8675/2.8774 from 2.8637/2.8795.
Local notes are mostly traded more easily than Asean currencies.
It appreciated against the Thai baht to 12.7880/12.8411 from 12.8947/12.9767 previously but fell against the Philippine peso to 7.52/7.55 from 7.47/7.51 last Friday and eased against the Indonesian rupiah to 279.7/280.8 from 279.7/280.8.
It also weakened against the Singapore dollar to 3.3022/3.3136 from 3.3207/3.3394 at Friday's close.
