The ringgit opened higher against the US dollar in early trade on a further attempt to break below RM4.40 and traders eyed the next move on US tariffs.
At 10am, the ringgit was at 4.4140, down 0.14% against the USD from its close of 4.4080 at the close of trade on Monday.
Bank Muamalat Malaysia Bhd Chief Economist Dr Mohd Afzanizam Abdul Rashid said the imposition of tariffs appeared to be a measured approach rather than a broad-based one which the market may accept to maintain risk sentiment.
However, market conditions remain unchanged and a firmer stance on tariffs by the US could quickly shift sentiment towards risk aversion.
Meanwhile, the ringgit was trading higher against major currencies.
It rose against the Japanese yen to 2.9387/9532 from 2.9471/9495, strengthened against the British pound to 5.5591/5862 from 5.5704/5742 and rose against the euro to 4.6096/6321 from 4.6156/6188.
The ringgit also showed a positive trend against Asean currencies.
It appreciated against the Singapore dollar to 3.2895/3061 from 3.2950/2975, rose against the Thai baht at 13.1338/2046 from 13.1508/1672 at yesterday's close.
The local currency was almost unchanged against the Indonesian rupiah at 270.6/272.1 from 270.7/271.1 recorded at yesterday's close and was almost unchanged against the Philippine peso at 7.62/7.66 compared to 7.62/7.63 yesterday.
