Ringgit opens marginally higher on mixed signals

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At 9 am, the local note rose to 4.1860/1890 versus the greenback from 4.1870/1905 at Monday’s close.

Bank Islam Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the volatile movement occurred as geopolitical risks are escalating in Eastern Europe, while investors are awaiting the outcome from the US Federal Open Market Committee meeting to be held today and tomorrow.

Mohd Afzanizam noted that the market has been indecisive, given the confluence of factors that affect sentiments.

 

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