Ringgit Edges Up Against Dollar Amid Ongoing US-Iran Tensions

The ringgit began the trading day slightly higher against the US dollar and other major currencies on Tuesday, but concerns over energy-driven inflation persisted.

Brent crude oil prices remained above $106 per barrel as the US-Iran standoff continued to raise worries about energy costs, said Dr. Mohd Afzanizam, chief economist at Bank Muamalat Malaysia Bhd.

The elevated geopolitical risks are leading investors to adopt a defensive posture, which has the ringgit trading higher against some currencies but lower against others.