The ringgit opened slightly higher against the US dollar at the opening of trade as the US Federal Reserve (Fed) did not appear inclined to cut rates in the near term.
At 11.10am, the ringgit was at 4.4400, down 0.38% against the USD from its close of 4.4320 on Thursday.
Bank Muamalat Malaysia Bhd Chief Economist Afzanizam Rashid said the US dollar appeared to be in a profitable position at the moment and this scenario would pose a challenge to emerging market currencies including the ringgit.
Therefore, the ringgit could play near its immediate resistance level of RM4.45 today.
He added that a series of Fed officials had suggested that a rate cut should be carefully considered given the current US policy on tariffs.
Some of them also saw the current Fed Funds Rate approaching its neutral rate.
In addition, the US Dollar Index (DXY) was seen hitting a high of 108.076 points before settling at 107.696.
Meanwhile, the ringgit was traded mixed against other major currencies.
It rose slightly against the British pound to 5.5009/5.5189 from 5.5090/5.5171 at Thursday's close. However, it eased against the euro to 4.5933/4.6083 from 4.5920/4.5987 yesterday and fell against the Japanese yen to 2.9245/2.9345 from 2.9036/2.9080 previously.
Local notes were also mostly traded higher against Asean currencies.
It rose against the Thai baht to 13.0912/13.1462 from 13.1175/13.1433 at yesterday's close, rose against the Indonesian rupiah to 270.6/271.6 from 271.2/271.7 at Thursday's close and the Philippine peso to 7.60/7.63 from 7.62/7.63 previously.
