As at 9.07am, the ringgit was traded at 4.1660/1720 versus the greenback compared with 4.1730/1780 at Monday’s close.

AxiCorp chief global market strategist Stephen Innes said the ringgit’s strong trading today is supported by improving global risk sentiment, triggering a weaker US dollar.

“At the same time, higher oil prices round out the trifecta of bullish delights.

“Still, the bullish view is probably getting held back by yesterday’s worse-than-expected trade numbers and the constant cloud of political uncertainty ahead of China’s Golden Week, when liquidity typically dries up,” he told Bernama.

It was reported that China’s tourism industry expects more than 600 million trips to be taken during the eight-day Golden Week holiday, which begins on Oct 1.

Malaysia’s total trade declined 4.6% to RM145.06 billion in August compared with same month last year, with exports falling 2.9% to RM79.14 billion and imports slipping 6.5% to RM65.92 billion.

The ringgit was also traded mixed against other major currencies.

It appreciated against the yen to 3.9511/9571 from 3.9611/9662 and was higher versus the British pound to 5.3596/3694 from 5.3615/3687.

In contrast, the local unit was lower against the Singapore dollar to 3.0364/0426 from 3.0340/0385 and was weaker against the euro at 4.8638/8721 from 4.8590/8665 previously.