KUALA LUMPUR: The ringgit opened marginally lower against the US dollar on Wednesday, with the local note still trading within a narrow trading range amid mixed global market cues.

At 8am, the ringgit eased slightly to 4.0840/4.0885 against the US dollar from Tuesday’s close of 4.0835/4.0880.

Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said the 0.33% decline in the US Dollar Index (DXY) to 101.833 points, together with Brent crude prices hovering around US$100 per barrel, provided some support for the ringgit.

He said global equities were also positive on optimism over corporate earnings, reflecting stronger sentiment in financial markets “On that note, improved risk appetite among traders is providing support to the ringgit today,” he added.