The ringgit was slightly lower against the US dollar in early trade on cautious sentiment in global currency markets.
At 10.20am, the ringgit was at 4.4570, down 0.37% from its opening level to where it closed late Monday.
Bank Muamalat Malaysia Bhd Chief Economist Dr Mohd Afzanizam Abdul Rashid said the US dollar was boosted by concerns over French politics where there was a no-confidence motion over a disagreement over the national budget.
Meanwhile, Federal Reserve (Fed) governor Christopher Waller suggested he would opt for a rate cut at the December meeting and forecast more monetary easing.
The ringgit could therefore remain range-bound against the US dollar as market sentiment remains cautious about the Fed's outlook for 2025 as the threat of higher tariffs could push up inflation next year.
Meanwhile, the ringgit was mostly traded higher against a basket of major currencies.
It rose against the British pound to 5.6426/6534 from 5.6613/6683 on Monday, rose against the euro to 4.6807/6896 from 4.6856/6914 but fell against the Japanese yen to 2.9784/9842 from 2.9648/9687 yesterday.
The local note also traded mostly lower against Asean currencies.
It was lower against the Singapore dollar at 3.3136/3202 from Monday's close of 3.3113/3156 and weakened against the Philippine peso to 7.60/7.62 from 7.59/7.61
The local unit rose against the Thai baht to 12.9134/9462 from 12.9196/9423 yesterday and weakened against the Indonesian rupiah at 280.3/281.0 from 280.1/280.6 previously
