The Malaysian ringgit could remain under pressure in the near term amid a stronger U.S. dollar outlook following a more hawkish Fed stance, Hong Leong IB analysts say in a note. Lingering geopolitical uncertainty in the Middle East and rising domestic political risks ahead of a potential general election may further weigh on sentiment, they write. Foreign fund outflows from Malaysian government bonds have also increased, but reserves remain healthy and provide a buffer against volatility. The analysts reckon the weakness will be temporary, with the ringgit stabilizing and recovering toward the year-end as policy and political uncertainties ease and capital inflows return. Hong Leong expects the dollar to reach 4.05 ringgit by the year-end, averaging around 4.10 ringgit for 2026. The dollar rises 0.2% to 4.0922 ringgit. (yingxian.wong@wsj.com)