The ringgit opened higher against the US dollar as the market remained cautious ahead of the release of the Federal Open Market Committee (FOMC) minutes on Thursday.
At 9.50am, the ringgit was at 4.4380 against the US dollar from 4.4300 at the close of trading on Monday.
Bank Muamalat Malaysia Bhd Chief Economist Afzanizam Rashid said global economic policy uncertainties, particularly involving the US government's import tariff policies and the fragility of the Gaza ceasefire arrangement, could easily tip the scales of market sentiment.
The US Dollar Index (DXY) remained stuck at around 106 points as US markets were closed for a public holiday.
He predicted the currency market would remain cautious ahead of the FOMC minutes this week.
Meanwhile, the ringgit traded mostly lower against a group of major currencies.
It appreciated against the euro to 4.6396/4.6606 from 4.6413/4.6476 at Monday's close, but fell against the British pound to 5.5848/5.6100 from 5.5765/5.5840 yesterday and depreciated against the Japanese yen to 2.9216/2.9350 from 2.9179/2.9221 previously.
However, the local currency traded higher against its Asean counterparts.
The ringgit rose against the Singapore dollar to 3.2985/3.3139 from 3.3025/3.3072 at yesterday's close and rose against the Thai baht to 13.1263/13.1958 from 13.1349/13.1593.
It also strengthened against the Indonesian rupiah to 272.6/274.0 from 272.9/273.4 at Monday's close and rose against the Philippine peso to 7.62/7.66 from 7.63/7.65 previously.
