Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said market participants will closely observe data points such as the US Consumer Price Index (CPI) during this interim period.

“The consensus among analysts is that the headline CPI will likely show a 3.6% increase in August, following a 3.2% uptick in the previous month.

“Consequently, it is expected that the exchange rate for the US dollar vs ringgit will fluctuate within the range of RM4.66 to RM4.68,” he told Bernama.

At 9.11am, the local note rose to 4.6700/4.6750 against the greenback from Friday’s close of 4.6745/4.6795.

The ringgit traded mostly higher against a basket of major currencies.

It increased against the euro to 5.0030/5.0083 from Friday’s close of 5.0031/5.0085 and was up versus the British pound to 5.8310/5.8372 from 5.8352/5.8414

Meanwhile, it depreciated against the Japanese yen to 3.1767/3.1803 from 3.1741/3.1777 previously.

The local note also traded stronger against other Asean currencies.

It appreciated vis-a-vis the Singapore dollar to 3.4227/3.4269 from 3.4277/3.4312 at Friday’s close and higher against the Indonesian rupiah at 304.6/305.1 from 304.9/305.4, rose against the Thai baht to 13.1220/13.1431 from 13.1591/13.1787 and was up against the Philippine peso at 8.24/8.26 from 8.25/8.26.