Ringgit strengthens against US dollar amid trade tensions
Market analysts attributed the rebound to lingering concerns over US trade policies and their global economic impact.
At 8 am, the local currency rose to 4.2365/2515 against the greenback from Friday's close of 4.2420/2480.
An analyst highlighted US President Donald Trump's proposed tariffs on semiconductors and pharmaceuticals as a key concern.
'These measures could disrupt international trade and dampen risk sentiment,' the analyst said.
Investors are also monitoring tensions within the BRICS bloc and the fragile US-China trade truce.
'Trump's unpredictable policy moves continue to fuel market volatility,' the analyst added.
Bank Muamalat Malaysia's chief economist, Dr Mohd Afzanizam Abdul Rashid, expects the ringgit to trade between 4.24 and 4.25 against the dollar.
Mixed signals from US Federal Reserve officials have supported the greenback, with the dollar index at 98.243 points.
'The ringgit's movement remains cautious ahead of the US CPI data release on Tuesday,' he said.
July's inflation is forecast to rise to 2.8 per cent, while core inflation may hit 3.0 per cent.
Malaysia's second-quarter GDP data, due this Friday, will also be a key focus.
Advance estimates suggest 4.5 per cent growth, but slower industrial and services output may pose downside risks.
The ringgit strengthened against major currencies at the opening.
It rose against the yen to 2.8693/8796 from 2.8720/8763 on Friday.
The local note also gained versus the euro at 4.9343/9517 and the pound at 5.6951/7153.
Against regional peers, the ringgit climbed against the Singapore dollar, Thai baht, Indonesian rupiah, and Philippine peso. - Bernama
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