KUALA LUMPUR: The ringgit opened lower against the US dollar today, as market participants adopted a wait-and-see approach ahead of the United States (US) Federal Open Market Committee's (FOMC) decision on interest rate cuts.

At 8.13 am, the local note depreciated to 4.2610/2785 versus the greenback from Tuesday's close of 4.2535/2645.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid noted that there have been mixed views on the extent of the US Federal Reserve's (Fed) potential rate cut today.

"This uncertainty has caused anxiety, as the Fed may take a more gradual approach, while markets appear to favour a half-point cut," he told Bernama.