Ringgit opens higher against greenback ahead of FOMC meeting
The ringgit opened against the US dollar on Monday, as investors are in a cautious mode ahead of the Federal Open Market Committee (FOMC) meeting scheduled on Oct 28-29, an analyst said.
KUALA LUMPUR: The ringgit opened against the US dollar on Monday, as investors are in a cautious mode ahead of the Federal Open Market Committee (FOMC) meeting scheduled on Oct 28-29, an analyst said.
At 8 am, the ringgit appreciated to 4.2145/2350 against the US dollar from 4.2210/2255 at Friday's close.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said September's 3 per cent consumer price index (CPI) print is below the 3.1 per cent consensus estimate.
This suggests that the US Federal Reserve (Fed) is on track to deliver its second interest rate cut, and there may be more cuts in 2026 as the US central bank has shifted its focus to reviving the job market, he told Bernama.
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