The ringgit was disappointed in early trade on Friday as the US dollar strengthened on expectations surrounding the US administration's trade policy.
At 10.30am, the ringgit was at 4.4760, down 0.20% against the USD from its close of 4.4670 at the end of Thursday.
UOB Kay Hian Wealth Advisors head of investment research Mohd Sedek Jantan commented on the stronger opening of the local currency that it was in line with the Asian Dollar Index following the release of the US preliminary jobless claims data.
He added that the data showed a continued decline and increased the chances of the Fed reducing the number of rate cuts in 2025 which in turn would weaken the US dollar.
The market sees the ringgit likely to be traded in a tight range around today's levels as the global foreign exchange market remains weak due to the holiday season and the absence of significant macroeconomic data.
Meanwhile, the ringgit was traded mixed against major world currencies.
The ringgit appreciated against the Japanese yen, trading at 2.8310/8345 from 2.8373/8405 at Thursday's close and strengthened against the British pound at 5.5956/6019 from 5.5967/6023. However, it depreciated against the euro to 4.6550/6602 from 4.6448/6495.
The ringgit also showed mixed performance against Asean currencies.
It strengthened against the Singapore dollar to 3.2868/2908 from 3.2875/2913 but weakened against the Thai baht to 13.0779/1052 from 13.0340/0543. The local currency remained firm against the Indonesian rupiah at 275.8/276.3 and the Philippine peso at 7.70/7.71.
