Ringgit ends higher versus greenback
KUALA LUMPUR: The ringgit had strengthened against the US dollar at the close yesterday as markets await the Federal Open Market Committee’s (FOMC) decision, says an analyst.

At 6pm yesterday, the ringgit rose to 4.7160/7185 versus the greenback from Tuesday’s close of 4.7175/7205.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the US Dollar Index continues to hover above 105 points as the US Federal Reserve (Fed) maintains a restrictive stance following the strong US Non-farm Payrolls data last Friday.

“However, the jury is still out and the latest macroeconomic projection will be the crucial factor that will set the tone for the rate cut anticipation.

“For now, September is expected to be the month where the Fed will commence the monetary easing based on consensus estimates,” he told Bernama.
Forex,MYRinggitStrength,USDollarDown,FOMC,RateCutBets
The ringgit had strengthened against the US dollar at the close yesterday as markets await the Federal Open Market Committee’s (FOMC) decision, says an analyst.