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Ringgit edges higher versus US dollar

NEWS

October 26, 2026 at 01:31 UTC

2 min read
Malaysian ringgit and US dollar banknotes on a desk, reflecting moves in USD, DXY and UKOUSD before the Fed meeting

Key Points

  • 01Ringgit opens slightly higher at 4.0815/4.0870 against US dollar
  • 02Move comes ahead of US Fed’s FOMC meeting on Oct 27-28
  • 03US Dollar Index (DXY) and US Treasury yields both register gains
  • 04Brent crude (UKOUSD) holds at US$116 a barrel amid West Asia conflict

Ringgit firms slightly against the US dollar

The ringgit opened slightly higher against the US dollar in early trade on Monday, Oct 26, 2026, as markets positioned cautiously ahead of key US monetary policy decisions. At 8.02am in Kuala Lumpur, the local currency stood at 4.0815/4.0870 versus the greenback, compared with Friday’s close of 4.0835/4.0875. The modest appreciation came in a session marked by careful risk-taking rather than strong directional moves.

Trading conditions were cautious as investors awaited the outcome of the US Federal Reserve’s Federal Open Market Committee meeting scheduled for Oct 27-28. Market participants were closely watching potential policy signals from the meeting, which could influence global capital flows and demand for the US dollar.

Global factors shaping currency moves

Despite the ringgit’s gain, broader indicators pointed to underlying US dollar strength at the start of the week. The US Dollar Index (DXY) rose 0.2%, while US Treasury yields were also higher, reflecting firm demand for dollar assets. These moves typically support the greenback, making the ringgit’s slight appreciation a relatively measured response within a stronger dollar environment.

Commodity markets also formed part of the backdrop for currency trading. Brent crude (UKOUSD) oil prices were holding at US$116 per barrel amid ongoing conflict in West Asia, which could disrupt global crude supply. Elevated oil prices are a key macro variable for Malaysia, a net energy exporter, and can influence sentiment toward the ringgit.

Market sentiment and expected trading range

Overall market sentiment around the ringgit was cautious rather than strongly bullish or bearish. The local currency was expected to trade within a narrow range during the day as investors evaluated incoming information ahead of the FOMC decision. This suggested that significant volatility was not anticipated in the immediate term absent new policy signals or geopolitical shocks.

At the opening session, the ringgit was traded mostly higher against a basket of major currencies, indicating that its early strength was not limited to the US dollar pair. The combination of a firm US dollar, higher US yields, robust Brent (UKOUSD) prices and geopolitical uncertainty left traders focused on short-term positioning rather than making large directional bets on the Malaysian currency.

Key Takeaways

  • 01The ringgit’s early advance occurred despite a firmer US dollar and higher US yields, highlighting a measured but resilient performance.
  • 02Upcoming US monetary policy decisions and elevated oil prices are central drivers for near-term moves in the ringgit.
  • 03With sentiment cautious and the currency expected to trade in a narrow band, short-term volatility around the ringgit remains contained for now.

References

  1. https://www.freemalaysiatoday.com/category/business/2026/10/26/ringgit-higher-against-us-dollar-in-early-trade-10
  2. https://www.tvsarawak.my/2026/10/26/ringgit-dibuka-tinggi-berbanding-dolar-as-13/
  3. https://www.nst.com.my/business/economy/2026/10/1563569/ringgit-higher-against-us-dollar-early-trade
  4. https://luminews.my/news/4803608
Ringgit edges higher versus US dollar | Trading Dashboard