KUALA LUMPUR: The ringgit opened slightly higher against the US dollar on Tuesday, although the greenback remained supported by expectations of higher US interest rates.

At 8am, the ringgit rose to 4.0835/4.0895 against the US dollar from Monday’s close of 4.0845/4.0890.

Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said the US dollar index (DXY) rose 0.23% to 102.167 points, reflecting the stronger greenback.

“As a result, the ringgit was likely to remain within a narrow trading range,” he noted.

He added that the US dollar had also strengthened as demand for the currency increased, with some investors seeking safer assets amid global uncertainty.