On Tuesday, the Malaysian ringgit opened slightly higher at 3.9500/9560 against the US dollar, up from 3.9510/9550 the previous day. This uptick is attributed to ongoing negotiations between the United States and Iran, which could potentially lead to the reopening of the Straits of Hormuz, a critical maritime route for global oil trade. US President Donald Trump commented that discussions are progressing positively, while Pakistan's military chief stated that an agreement is nearing completion. Despite this optimism, Dr. Mohd Afzanizam Abdul Rashid, chief economist at Bank Muamalat Malaysia Bhd, cautioned that no definitive results have emerged yet. He noted that the current economic outlook remains uncertain, with rising yields affecting the bond market and the cost of living being a concern. The ringgit also showed strength against other major currencies, including the Japanese yen, euro, and British pound, while remaining stable against the Indonesian rupiah. Analysts predict the ringgit will trade within the range of RM3.94 to RM3.95 as they await more information on the negotiations.