KUALA LUMPUR: The ringgit opened higher against the US dollar for a seventh straight trading day ahead of the high-stakes meeting between US President Donald Trump and Chinese President Xi Jinping on May 14-15, 2026.
At 8 am, the local currency strengthened to 3.9265/9330 against the greenback from 3.9285/9325 at Wednesday’s close.
Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said traders were generally expecting positive outcomes from the meeting between the two leaders.
He added that higher fuel prices amid the war in West Asia had started to feed into inflation, potentially dampening hopes for an interest rate cut by the US Federal Reserve (Fed).
At the time of writing, Brent crude oil edged up 0.08 per cent to US$105.71 per barrel.
"However, the situation remains fluid. Growth could come under pressure and the Fed may shift its focus towards supporting the economy,” he told Bernama.
At the opening, the ringgit traded mixed against a basket of major currencies.
It appreciated against the Japanese yen to 2.4872/4914 from 2.4888/4916, but weakened against the British pound to 5.3110/3198 from 5.3105/3160, and slipped versus the euro to 4.6003/6079 from 4.5987/6034 at Wednesday’s close.
The local currency traded mostly higher against regional peers.
It gained against the Singapore dollar to 3.0859/0915 from 3.0872/0906 and strengthened against the Indonesian rupiah to 224.6/225.1 from 224.7/225.1.
The ringgit also edged up against the Philippine peso to 6.39/6.41 from 6.40/6.41, but eased against the Thai baht to 12.1469/1735 from 12.1419/1599 previously. - Bernama
