KUALA LUMPUR, Dec 15 — The ringgit moved within a tight range to close marginally higher against the US dollar today as markets participants took a guarded approach in view of the final Federal Open Market Committee deliberations tonight.
Bank Islam Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the latest US Producer Price Index print which came in higher at 9.6 per cent during November, exceeding consensus estimates of 9.2 per cent, indicated that the Federal Reserve would most likely issue a more hawkish statement tonight.
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