AI Summary
The Malaysian ringgit opened stronger against the US dollar due to a weakened US economic outlook fueled by tariff concerns. The local currency rose to 4.2790/2960 against the greenback. Economist Mohd Afzanizam Abdul Rashid attributed the ringgit's rise to a declining US Dollar Index and falling US equity prices. While US Treasury yields rose due to a sovereign rating downgrade, the ringgit is expected to remain range-bound. Better-than-expected Malaysian export figures in April further supported the ringgit's strength.
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