The local note opened lower against the US dollar at the early open as it took a break from recent gains as the market digested the Federal Reserve's (Fed) dovish but cautious stance.
At 9.50am, the ringgit was at 4.4200, positive against the US dollar from its close of 4.4245 at the end of Thursday.
Bank Muamalat Malaysia Bhd chief economist Dr Afzanizam Rashid said Malaysia's consumer price index for February, released today, is expected to show an increase of 1.5% year-on-year after remaining at 1.7% for two consecutive months.
Therefore, the good inflation reading means that Bank Negara Malaysia is comfortable with the current monetary policy stance and will tend to keep the overnight policy rate stable in the near term.
He forecast the ringgit to trade between 4.42 and 4.43 against the US dollar today.
Against a basket of major currencies, the ringgit was trading lower this morning.
It weakened against the euro to 4.8028/4.8153 from 4.7973/4.8033 at Thursday's close, fell against the British pound to 5.7368/5.7517 from 5.7276/5.7347, and weakened against the Japanese yen to 2.9773/2.9852 from 2.9728/2.9767.
It was also mostly lower against its Asean currencies.
It weakened against the Singapore dollar to 3.3150/3.3241 from 3.3117/3.3164 at the previous close, fell against the Philippine peso to 7.73/7.76 from 7.72/7.74, and weakened against the Indonesian rupiah to 268.3/268.6 from 268.3/268.2.
However, it strengthened against the Thai baht to 13.1112/13.1538 from 13.1163/13.1388 at yesterday's close.
