Ringgit opens firmer versus major peers, slips to 4.0925/0980 against US dollar
AI Market Summary
Malaysia's ringgit opened weaker versus the US dollar as markets shifted risk-off after the Trump administration announced fresh 10–12.5% import tariffs on 60 economies, including Malaysia, citing forced labour. The move revives trade-policy uncertainty after prior tariff measures were struck down, while higher crude prices add to macro volatility. The ringgit's mixed performance against other majors highlights defensive positioning and localized pressure versus USD.
Impact level
● Medium
AI InsightAI Insight
▼ Bearish
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The Trump administration announced additional import tariffs of between 10 per cent and 12.5 per cent on 60 economies, including Malaysia, citing forced labour practices. After the US Supreme Court annulled the previous tariff measures in February, the new move left the ringgit opening weaker against the US dollar at 4.0925/0980 compared with the prior close. The ringgit, however, opened higher against most major currencies, reflecting a risk-off tone alongside persistent structural pressure on the local unit.
