Ringgit ends higher against greenback on Fed rate outlook

At 6pm, the ringgit edged up to 4.0785/4.0820 against the greenback from yesterday’s close of 4.0790/4.0850.

Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said the ringgit, along with other Asian currencies, gained some momentum today as recent US data points suggested that the Fed might skip a rate hike decision next month. He added that weaker consumer sentiment could weigh on household spending, which accounts for about two-thirds of the US economy.

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