KUALA LUMPUR – The ringgit opened higher against the US dollar today, as easing US-China trade tensions brought relief to the financial markets, reducing recession fears and boosting risk-on sentiment among the traders and investors, an analyst said.
At 8.01 am, the local note appreciated to 4.3045/3245 versus the US dollar compared to Tuesday’s close of 4.3185/3250.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the US consumer price index (CPI) grew 2.3 per cent year-on-year in April, slightly below market expectations of 2.4 per cent, while core CPI sustained at 2.8 per cent.
“The moderation in CPI also suggests that concerns over US tariff-induced inflation may take a backseat for now,” he told Bernama. – May 14, 2025