KUALA LUMPUR, April 16 — The ringgit ended higher against the US dollar today, supported by a weaker greenback amid uncertainties surrounding the trade war and tariff tensions, said an analyst.

At 6pm, the local note appreciated to 4.4085/4135 against the US dollar from Tuesday’s close of 4.4100/4155.

SPI Asset Management managing partner Stephen Innes said that traders are continuing to bet against the strength of the US dollar, as they remain doubtful about the White House’s strategy for handling trade war and tariff uncertainties.

“The trade war’s direction is unclear, the policy response feels reactionary, and there is no visible end game. This creates uncertainties around the US assets, and the dollar is bearing the impact,” he told Bernama.

Echoing Innes, Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said traders are no longer turning to safe haven currencies, despite ongoing uncertainty over Donald Trump’s tariff policies.

“Additionally, the US Dollar Index (DXY) dropped 0.74 to 99.479 points as all of the six components have gained quite considerably against the US dollar,” he said.

On Asian currencies, Innes said that local currencies are closely tracking the Chinese yuan, with markets fixated on the People’s Bank of China’s daily fix for any hint that Beijing may pivot and use the currency as a tool in trade tensions.

“This has put pressure on the ringgit today, as investors in the region remain cautious of a gradual yuan depreciation, fearing it could trigger a chain reaction of competitive devaluations,” he said.

Meanwhile, the ringgit was traded lower against major currencies.

It dropped against the euro to 5.0072/0129 from 4.9996/5.0059 at the close on Tuesday, eased versus the Japanese yen to 3.0861/0898 from 3.0852/0895 yesterday and weaker vis-a-vis the British pound to 5.8488/8554 from 5.8366/8439 previously.

At the same time, the local note was traded mixed against ASEAN currencies.

It rose against the Indonesian rupiah to 261.8/262.2 from 262.0/262.5 at Tuesday’s close, while the local note was flat versus the Philippine peso at 7.76/7.78.

However, it depreciated against the Singapore dollar to 3.3537/3578 from 3.3498/3545 yesterday and inched down vis-a-vis the Thai baht to 13.2547/2773 from 13.1461/1708 previously. — Bernama