KUALA LUMPUR, July 27 — The ringgit closed marginally lower against the US dollar today as investors await the United States Federal Reserve meeting and guidance on path to taper its asset purchases, an analyst said.
Bank Islam Malaysia Bhd economist Adam Mohamed Rahim said with the Fed meeting to commence for two days on July 27-28, investors were looking for a clearer direction especially after the US continued to record higher inflation rate in June. Meanwhile, at the close, the local note was traded mostly higher against a basket of major currencies.
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