The ringgit strengthened against the US dollar in early trade on Tuesday on improved buying sentiment for the domestic currency.
At 10.20am, the ringgit was at 4.4250, down 0.07% against the USD from its close of 4.4225 at the end of Monday's trading.
However, Dr Afzanizam said the US Dollar Index (DXY) remained high at around 106 points and would accelerate demand for the US dollar.
He added that rising geopolitical risks amid the resilience of the US economy appeared to have strengthened the value of the US dollar as the market sought shelter from market volatility.
Market participants are now eyeing the US CPI report due out on Wednesday with market consensus forecasting a 2.7% increase in November from 2.6% previously while the US core inflation rate will be maintained at 3.3% for the third consecutive month.
Accordingly, the ringgit could remain around RM4.42 to RM4.43 today.
The ringgit traded higher against a basket of major currencies.
It rose against the British pound to 5.6346/6474 from 5.6466/6537 on Monday, rose against the euro to 4.6640/6745 from 4.6733/6791, and rose against the Japanese yen to 2.9198/9266 from 2.9401/9440.
The local note also performed better against Asean currencies.
It rose against the Singapore dollar to 3.2968/3045 from Monday's close of 3.3019/3062 but was unchanged against the Philippine peso to 7.62/7.64 from 7.62/7.63.
The local unit also rose against the Thai baht to 13.0785/1205 from 13.0801/1029 yesterday and rose against the Indonesian rupiah to 278.5/279.3 from 278.7/279.2 previously.
