Ringgit weakens versus dollar but gains on other major currencies

The ringgit fell to 4.0965/4.1010 against the US dollar by 6pm, compared with Tuesday's closing level of 4.0835/4.0880, reflecting continued pressure from the greenback's strength in regional markets.

Despite the decline against the dollar, the local currency demonstrated resilience elsewhere, posting gains against most other major currencies in the session. This mixed performance highlights the divergent forces at play in currency markets, with the US dollar maintaining its broad appeal while regional peers extended recent losses.

The movement comes as investors continue to monitor macroeconomic developments and interest rate differentials between major economies. The ringgit's weakness against the greenback reflects the dollar's sustained demand, a pattern that has persisted through recent trading sessions as market participants reassess growth and inflation trajectories.

Analysts note that while short-term volatility remains evident in the ringgit's trading, the currency's relative performance against regional peers suggests underlying support from Malaysia's economic fundamentals. Market participants are expected to continue watching for signals from central banks and economic data releases that could influence currency direction in coming sessions.