The Malaysian ringgit strengthened against the US dollar due to a weaker US Dollar Index, which fell 0.71% to 100.376. This decline was attributed to concerns over the US government's credit rating downgrade following populist measures by the Trump administration. The ringgit rose to 4.2870/2945 against the greenback. While the US dollar's global reserve currency status remains, the ongoing trade tensions may lead to reassessment. Against other currencies, the ringgit saw mixed performance, appreciating against the Philippine peso but depreciating against the Japanese yen, euro, British pound, Singapore dollar, and Thai baht.
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