Ringgit strengthens against majors but weakens versus dollar

The ringgit weakened to 4.0865/4.0900 against the US dollar by 6 pm, slipping from Monday's closing level of 4.0855/4.0895, indicating renewed pressure on the currency from dollar strength. The modest depreciation reflected the continued dominance of the greenback in regional trading as investors reassessed interest rate differentials between the US and other economies. Despite the setback against the dollar, the ringgit managed to post gains when measured against a broader range of major trading partners, suggesting selective weakness rather than a broad-based decline. Market analysts attributed the mixed performance to competing factors, including global risk sentiment and the relative performance of regional currencies. The ringgit's trajectory continues to be shaped by external headwinds, particularly from US monetary policy and capital flow dynamics in the region.