The Malaysian ringgit opened higher against a basket of major currencies on Friday, reflecting a broader risk-off shift in global markets.
While the currency gained ground against most peers, it eased slightly against the US dollar as investors navigated rising crude oil prices and renewed geopolitical tensions linked to the Trump administration's policy stance.
This mixed performance marks a shift from the ringgit's recent trajectory.
Over the past week, the currency had been on a recovery path, bolstered by weaker-than-expected US non-farm payrolls data for June and softer US inflation figures.
Those macroeconomic prints had previously supported a firmer ringgit against the greenback, but the current session's dynamics suggest that commodity-driven risk aversion is now taking precedence over US labor market softness.
The divergence against the dollar highlights the complex interplay facing emerging market currencies.