KUALA LUMPUR, Feb 26 — The ringgit rebounded against the US dollar at the opening today after a weaker-than-expected US consumer confidence report weighed on the greenback, reinforcing the narrative that monetary policy easing in the United States should remain intact this year.At 8am, the ringgit strengthened to 4.4100/4230 from 4210/4255 at yesterday’s close.Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said that the US Dollar Index (DXY) retreated to 106.308 points while the two- and 10-year US Treasury bonds dipped six and ten basis points to 4.07 per cent and 4.30 per cent, respectively.“In light of this, ringgit could gain some ground with the US dollar-ringgit possibly hovering around RM4.40 to RM4.41 today,” he told Bernama.On the latest US economic data, Mohd Afzanizam said American consumer confidence fell to 98.3 points in February from 105.3 points in January, representing the third consecutive month of decline.“This suggests that American consumers have become more cautious about the state of the US economy, especially in the context of the rising cost of living with Trump’s policies on import tariffs likely to exacerbate price pressures in the United States,” he added.SPI Asset Management managing partner Stephen Innes said the sharp drop in US bond yields was turning up the heat on the dollar as investors ramped up bets that slowing economic growth would force the US Federal Reserve’s (Fed) hand on rate cuts.“That shift has taken a bite out of the dollar, down two per cent year-to-date against a basket of peers, confounding earlier expectations that Donald Trump’s return to the White House would keep the greenback well-bid. Traders initially piled into dollars on the premise that Trump’s tariffs and immigration curbs would stoke inflation and force the Fed to stay hawkish. But as growth concerns take centre stage, that bullish thesis is unravelling,” he added.Meanwhile, the ringgit was traded weaker against major currencies.It fell against the Japanese yen to 2.9597/9687 from Tuesday’s closing of 2.9552/9584, declined against the British pound to 5.5879/6044 from 5.5806/5863, and fell against the euro to 4.6393/6530 from 4.6301/6348.The local currency was mostly higher against Asean currencies.It strengthened against the Philippine peso to 7.61/7.64 as compared with 7.63/7.64 at yesterday’s close, was higher against the Thai baht at 13.0497/1005 from 13.1132/1324 and rose against the Indonesian rupiah to 269.3/270.2 from 270.0/270.4.However, it dipped against the Singapore dollar to 3.3014/3116 from 3.2997/3034. — Bernama