Ringgit opens higher as US trade policy uncertainty, fiscal concerns weigh on Dollar

The ringgit opened higher against the US dollar today, buoyed by continued weakness in the greenback amid growing concerns over the United States' (US) fiscal trajectory and trade policy inconsistencies.

At 8.05 am, the ringgit rose to 4.2050/2250 against the US dollar compared with Monday's close of 4.2155/2220.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the US Dollar Index (DXY) had extended its downward trend, falling to 98.934 points, as investors grew wary of the direction of US trade policy under President Donald Trump.

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