At 8 am, the ringgit traded at 4.4650/4815 against the greenback, up from Monday’s close of 4.4910/4960.
: The ringgit opened higher against a weakening US dollar as US President Donald Trump, in his inauguration speech avoided announcing new tariffs, particularly on China.
“There was no specific mention of tariff hikes against China. However, the Wall Street Journal reported that President Trump plans to issue a broad memorandum directing federal agencies to review existing trade policies and relationships with China, Canada and Mexico.Mohd Afzanizam also noted that the 47th US President’s focus will be on domestic policies, particularly pro-growth initiatives.
UOB Kay Hian Wealth Advisors head of investment research, Mohd Sedek Jantan, highlighted that rather than refraining entirely from new tariffs, Trump directed federal agencies to review existing policies, signalling a more measured stance.
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