The Malaysian ringgit strengthened against the U.S. dollar in the late Asian session on Monday, as oil prices rose.

In economic news, data from Markit Economics showed that Malaysia's manufacturing activity contracted further in July, though at a softer pace than a month ago. The headline Nikkei manufacturing Purchasing Managers' Index rose to 48.1 in July from 47.1 in June.

Against the U.S. dollar, the ringgit rose to nearly a 2-week high of 4.0128 from an early low of 4.0500. At Friday's close, the ringgit was trading at 4.0275 against the greenback.

If the ringgit extends its uptrend, it is likely to find resistance around the 3.92 area.

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