Ringgit opens flat against US dollar

The ringgit started the day flat against the US dollar as investors adopted a wait-and-see stance following Bank Negara Malaysia's recent decision to hold interest rates steady, which weighed on sentiment.

At 8 am, the ringgit stood at 4.4200/4275, almost unchanged against the greenback from yesterday's close of 4.4200/4235.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the technical charts were still indicating that the USD/MYR was broadly neutral, suggesting that the ringgit could maintain its range-bound trade.

"As such, the USD/MYR could range between RM4.41 and RM4.42 as the market awaits the US Consumer Price Index data print which will be published tomorrow night (Malaysian time)," he told Bernama.

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