KUALA LUMPUR: The ringgit opened higher against the US dollar on Friday as traders turned cautious amid escalating geopolitical tensions, an analyst said.
At 8 am, the local currency rose to 3.8965/9160 against the greenback from 3.9045/9125 at Thursday’s close.
Bank Muamalat Malaysia Bhd Chief Economist Dr Mohd Afzanizam Abdul Rashid said risk-off sentiment had become evident in global financial markets as traders focused on developments surrounding the US-Iran nuclear deal.
"US President Donald Trump has set a 10-day deadline to conclude negotiations. At the same time, there are reports of US military forces building up in the Middle East,” he said.
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