The ringgit opened almost flat against the US dollar following the outcome of the two-day Federal Open Market Committee (FOMC) meeting and stronger US economic data is expected to remain supportive of the USD.
However, the ringgit was seen trading stronger in the index against a group of major currencies.
At 10.40am, the ringgit was at 4.5050, remaining stable against the US dollar from its closing of 4.5030 at the end of Thursday.
Citing US economic reports, Bank Muamalat Malaysia Bhd Chief Economist Dr Mohd Afzanizam Abdul Rashid said US data showed the economy remained resilient with the third quarter of 2024 gross domestic product coming in better than expected while initial jobless claims fell to 220,000 last week from 242,000 previously.
Following this, the US Dollar Index rose further to 108.418 points.
He added that USD/MYR continued to hover around RM4.50 in the near term.
Meanwhile, the ringgit traded higher against other major currencies.
It rose against the Japanese yen to 2.8563/8706 from 2.8687/8723 yesterday, against the British pound it rose to 5.6269/6544 from 5.6999/7062 and did better against the euro at 4.6669/6897 from 4.6876/6928.
The ringgit traded mixed against Asean currencies.
The local note rose against the Singapore dollar to 3.3059/3226 from 3.3130/3169 but fell against the Thai baht to 13.059/3226 from Thursday's close of 13.0322/0530.
It was almost flat against the Indonesian rupiah at 276.0/277.5 compared to 276.0/276.4 at Thursday's close and unchanged against the Philippine peso at 7.63/76.7 compared to 7.63/7.64 previously.
