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Currency

Mixed FX Monday

Trump Calls Off the Iran Strike: Ringgit Flat vs the Dollar, Weaker Against the Yen, Euro and Pound (2026)

RaymondRates.my5 min read

The ringgit opened Monday almost exactly where it closed Friday against the US dollar, after Trump called off a planned strike on Iran over the weekend. Against the yen, euro and pound, though, it slipped — a weak dollar doesn't always mean a strong ringgit.

RM4.0855
Ringgit's Friday close
USD/MYR, 6pm
RM4.07–4.09
Today's expected range
Bank Muamalat, via FMT
54.0
US ISM Manufacturing PMI
consensus for tonight

This morning vs Friday's close

0.0%0.5%1.0%1.5%2.0%flatUSD+1.5%100 JPY+0.3%EUR+0.3%GBPRinggit needed per unit, % change vs Friday’s close
Percentage change in ringgit needed per unit, Monday 3 August 8am open vs Friday 31 July 6pm close. Simple math on rates reported by FMT and The Star.
  • Only USD/MYR held steady — every other major pair moved further from Friday's close.
  • The yen saw the sharpest swing, with the euro and pound close behind it.

Why: the weekend's Iran news

What happened. Trump said on Truth Social on Saturday night that the US would "cancel the attack, subject to being able to rapidly make a DEAL" with Iran, after Iran and other Middle Eastern nations asked the US to hold off. Talks were set to resume Monday.
A pile of US dollar and Chinese yuan banknotes
Currency desks read the weekend's news as dollar-negative — less demand for the traditional safe-haven greenback. · Photo: Unsplash
  • Iran and its neighbours asked for a pause, citing progress on a deal — Trump agreed, for now.
  • Traders read it as dollar-negative — less safe-haven demand for the US dollar specifically.

What it means for your money

↑Trip to Japana little more ringgit needed↑Trip to Europe or the UKa touch more ringgit needed=Paying a US-dollar billabout where it was Friday
Qualitative read on this week's moves — see the chart above for the actual percentages.
An airport departure board displaying flight information
A Japan, Europe or UK trip converts a little less favourably this week than last. · Photo: Unsplash

What to watch

  • TonightUS ISM Manufacturing PMI for July lands. A strong beat could push the dollar back up; a miss could extend this morning's calm.
  • This weekWhether Iran and the US actually sign the deal Trump referenced, or talks stall and the strike is back on the table.
  • OngoingThe yen, euro and pound moves — if they keep drifting, a Japan or Europe trip gets costlier even while your US-dollar spending stays flat.
Not financial advice. This is general information based on publicly reported exchange-rate data and news coverage as at 3 August 2026. It is not a forecast of where the ringgit or any other currency is headed, and Rates.my does not issue currency targets or trading calls.

Sources & further reading

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This article is general information, not personalised financial advice. Rates.my is not a licensed financial adviser — always verify rates with the institution and consider your own circumstances.

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