The ringgit remained lower against the US dollar in early trade today as investors remained cautious on global market developments.
At 10.20am, the ringgit was at 4.4640 against the USD from its close of 4.4675 at the end of Tuesday's trading.
SPI Asset Management Partner Stephen Innes said the ringgit may face a worrisome early trade and expected the domestic unit to largely remain strong given Malaysia's weak correlation with the South Korean won.
South Korean President Yoon Suk Yeol lifted his short-lived martial law order early Wednesday morning local time after declaring martial law in a surprise speech late Tuesday.
In addition, the People's Bank of China has set the Yuan's domestic peg below 7.20. Any adjustment above this could spell trouble for regional currencies.
Such a move could be seen as a bearish signal prompting traders to unload currencies closely tied to China such as the Malaysian ringgit.
Meanwhile, the ringgit was mostly traded higher against a basket of major currencies.
It rose against the British pound to 5.6589/6716 from 5.6643/6700 on Tuesday, rose against the euro to 4.6923/7028 from 4.7003/7050 but fell against the Japanese yen to 2.9844/9913 from 2.9825/9859 yesterday.
The local note was also mixed against Asean currencies.
It rose against the Singapore dollar to 3.3199/3276 from Tuesday's close of 3.3223/3261 and was little changed against the Philippine peso to 7.62/7.64 from 7.62/7.63.
The local unit fell against the Thai baht to 13.0023/0398 from 12.9854/13.0042 yesterday but rose against the Indonesian rupiah at 279.9/280.7 from 280.1/280.5 previously.
