KUALA LUMPUR, Dec 14 — The ringgit settled lower against the US dollar at the close today as the greenback made a significant appreciation ahead of the two-day Federal Open Market Committee meeting starting today.
ActivTrades trader Dyogenes Rodrigues Diniz said the market is starting to price in a possible acceleration in the tapering process and a 0.75 per cent increase in the interest rate for the US in 2022.“From a technical point of view, if the ringgit manages to break above the 4.2420 level against the US dollar, it could rise to the 4.2900 level in a matter of a few weeks,” he said.
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