RINGGIT OPENS SLIGHTLY HIGHER AMID HOPES OF US - IRAN TALKS PROGRESS

What happened: The ringgit opened marginally higher against the US dollar on Tuesday amid signs of progress in diplomatic talks between Washington and Tehran. Key numbers: Ringgit at 4.0690/0750 versus Monday's close of 4.0695/0735. Brent crude fell 8.12 per cent to US$104.21 per barrel. Why it matters: Bank Muamalat economist Mohd Afzanizam Abdul Rashid said the talks could lead to reopening the Straits of Hormuz, and lower US Treasury bill yields suggest rate hike odds have eased, though he expects the ringgit to trade in a narrow range as sentiment stays cautious. Coverage: 3 outlets in 24h

The ringgit opened marginally higher against the US dollar on Tuesday amid signs of progress in diplomatic talks between Washington and Tehran.

Bank Muamalat economist Mohd Afzanizam Abdul Rashid said the talks could lead to reopening the Straits of Hormuz, and lower US Treasury bill yields suggest rate hike odds have eased, though he expects the ringgit to trade in a narrow range as sentiment stays cautious.