The ringgit opened lower against the US dollar at the early open on Tuesday as investors focused on concerns over the retaliatory tariffs expected to take effect on April 9, prompting a more cautious tone.
At 9.50am, the ringgit was at 4.4480 against the US dollar from where it closed at 4.4775 at the close of Monday's trading.
Bank Muamalat Malaysia Bhd Chief Economist Dr Mohd Afzanizam Abdul Rashid said the US Dollar Index (DXY) had risen steadily to 103.26, reflecting stronger demand for the safe-haven currency.
He said the ringgit fell 1.04 per cent against the US dollar yesterday, closing at RM4.4835.
The uncertainty is likely to keep traders and investors on a cautious note.
Meanwhile, the ringgit was trading higher against several major currencies.
It strengthened against the Japanese yen to 3.0385/0522 from 3.0655/0704, rose against the euro to 4.9044/9263 from 4.9100/9172, and appreciated against the British pound to 5.7207/7462 from 5.7491/7572.
However, local currencies were mostly weaker against Asean currencies.
It weakened against the Thai baht to 12.9350/13.0080 from 12.9128/9408, fell against the Indonesian rupiah to 266.9/268.1 from 266.1/266.6, and depreciated against the Philippine peso to 7.81/7.85 from 7.79/7.
However, it rose against the Singapore dollar to 3.3210/3360 from 3.3228/3281.
