KUALA LUMPUR, Nov 13 — The ringgit strengthened against most major currencies but weakened against the US dollar at today’s opening, as investors remained cautious ahead of the US Federal Reserve’s (Fed) December policy meeting.

At 8am, the local currency eased to 4.0780/0840 against the greenback from 4.0765/0805 at yesterday’s close.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the US Dollar Index continued to climb, reaching 103.198 points, amid expectations that the Fed could tighten monetary policy at its meeting next month.

He said Brent crude oil prices also rose 3.27 per cent to US$95.79 a barrel, suggesting that inflationary pressures could remain elevated.