The local currency was positive against the US dollar in early trade amid a strengthening US Dollar Index (DXY) boosted by gains in US Treasury bonds.
At 9.50am, the ringgit was at 4.4500 against the USD from its close of 4.4400 at the close of trade on Tuesday.
Bank Muamalat Malaysia Bhd Chief Economist Dr Mohd Afzanizam Abdul Rashid said the DXY rose 0.41% to 107.009 points while the two- and 10-year US Treasury bond yields rose five and seven basis points to 4.31% and 4.55% respectively.
He said sentiment was influenced by Fed official Mary Daly's remarks that they should maintain funds until there was clear evidence that inflation was moving towards the 2% target.
The ringgit is also expected to remain tight against the US dollar today.
In addition, policy uncertainty over import tariffs and seemingly positive developments in the Ukraine war with Russia, as well as the US proposal to take over Gaza, have led to mixed sentiment.
The push has created uncertainty about how these developments will help stabilise geopolitical risk premiums.
He said the shift from risk-on to risk-off mode will remain high, leading to volatility in financial markets.
Meanwhile, the ringgit was mostly traded higher against a basket of major currencies.
It appreciated against the euro to 4.6407/6470 from 4.6511/6553 at Tuesday's close and rose against the Japanese yen to 2.9246/9287 from 2.9272/9302 yesterday but fell against the British pound to 5.6080/6085 from 5.6080/6080 previously.
The local note was traded mixed against Asean currencies.
The ringgit rose against the Singapore dollar to 3.3095/3142 from 3.3115/3150 at yesterday's close, but it fell against the Thai baht to 13.1942/2194 from 13.1881/2067.
However, it traded almost flat against the Indonesian rupiah and Philippine peso to 272.9/273.4 from 272.9/273.3 yesterday and 7.63/7.65 from 7.63/7.64 at Tuesday's close
