Ringgit firmer against US dollar ahead of CPI data

Bank Muamalat Malaysia Bhd chief economist Afzanizam Abdul Rashid said Brent crude was hovering around US$101 (RM410.63) per barrel, a development that could bolster the case for a rate hike at next week’s Federal Open Market Committee meeting.

“Despite that, the ringgit performed favourably against the US dollar. Still, it remains to be seen whether the appreciation can be sustained in the near term,” he told Bernama.

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