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KUALA LUMPUR: The ringgit opened stronger against the US dollar on Wednesday as the greenback weakened on a softer United States economic outlook amid tariff concerns, an analyst said.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said there is a noticeable sense of uncertainty about the future of the US economy due to ongoing concerns about tariffs, which might affect prices and economic growth. "However, the US Treasury yields rose as the recent sovereign rating downgrade on the US government may stall plans for expansionary fiscal policy,” he told Bernama.
"Additionally, Malaysia’s exports figure turns out to be better-than-expected in April at 16.4 per cent versus 7.5 per cent estimates among the consensus.
Ringgit US Economic Outlook Tariff DXY Mohd Afzanizam Abdul Rashid
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