The Malaysian ringgit rose more than 1% to around 3.98 per USD, recovering from two-month lows as global risk sentiment improved and the US dollar broadly weakened after US President Trump decided to delay a potential strike on Iran by two weeks. The move followed a US–Iran agreement to pause hostilities, with Washington agreeing to refrain from military action in exchange for Tehran’s commitment to restore safe maritime flows through the Strait of Hormuz, a key global oil shipping route. The conflict, which erupted in late February, has escalated into a broader regional confrontation, unsettling global markets and driving up oil prices. However, the impact on the ringgit was cushioned by Malaysia’s status as a net energy exporter, alongside steady inflows into manufacturing and data-centre investments. Bank Negara Malaysia’s steady policy stance also added support, reinforcing a growth-supportive outlook amid contained inflation and resilient domestic economic momentum.