Ringgit Rides Geopolitical Waves, Falls Slightly Against Greenback

The ringgit opened mostly higher against major currencies on September 28, except for a slight decline against the US dollar.

Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam said geopolitical risk will continue to influence market sentiment due to ongoing tensions between the United States and Iran over the Strait of Hormuz.

The ringgit's performance was also affected by traders monitoring US labor market data for further indications of the economy's direction, according to Afzanizam.