Ringgit falls, comments by Fed officials dampen rate cut hopes

  • 📰 theSundaily
  • ⏱ Reading Time:
  • 43 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 51%

Bernama News

Malaysia Latest News,Malaysia Headlines

KUALA LUMPUR: The ringgit retreated against the US dollar to open lower on Tuesday as the risk mood was dampened by cautious US Federal Reserve offici...

: The ringgit retreated against the US dollar to open lower on Tuesday as the risk mood was dampened by cautious US Federal Reserve official’s comments.Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said as expected, Fed officials continue to air their restrictive bias as they are convinced with the current disinflationary trajectory.

“The ringgit could range RM4.6800 to RM4.6900 as some market participants might take some profit as technical indicators have shown signs of overbought condition to emerge,” he added. The ringgit was traded mostly lower against a basket of major currencies, except versus the Japanese yen, where it broke the 2.90 level.The ringgit, however, fell against the euro to 5.0944/0988 from 5.0921/0948 and slid vis-a-vis the British pound to 5.9613/9664 from 5.9518/9550.The local note traded mixed against Asean currencies, increasing vis-a-vis the Thai baht to 12.9550/9714 from 12.9987/13.0100 previously and was unchanged versus the Philippine peso at 8.09/8.11.

The ringgit slipped against the Indonesian rupiah to 293.5/293.9 from 293.1/293.5 and depreciated against the Singapore dollar to 3.4813/4845 from 3.4809/4831 at Monday’s close.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 25. in MY

Malaysia Latest News, Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Lay Zhang Announces World Tour & He's Coming Back To Kuala LumpurLike he said he would.
Source: saysdotcom - 🏆 9. / 63 Read more »

ANA operates twice daily flights from Kuala Lumpur to Tokyo from Sept 1KUALA LUMPUR, May 13 — All Nippon Airways (ANA) is increasing its flights between Kuala Lumpur to Tokyo, offering more connectivity to Japan. Starting from 1st September 2024,...
Source: malaymail - 🏆 1. / 86 Read more »

ANA operates twice daily flights from Kuala Lumpur to Tokyo from 1st SeptKUALA LUMPUR, May 13 — All Nippon Airways (ANA) is increasing its flights between Kuala Lumpur to Tokyo, offering more connectivity to Japan. Starting from 1st September 2024,...
Source: malaymail - 🏆 1. / 86 Read more »

US Comedian Atsuko Okatsuka To Perform In Kuala Lumpur This JulyIt'll be part of her debut tour in Asia.
Source: saysdotcom - 🏆 9. / 63 Read more »

JPJ Wangsa Maju Office In Kuala Lumpur Remains Open Despite Roof LeakDespite the viral video, the public can still visit JPJ Wangsa Maju and conduct their business without worrying about the building's condition.
Source: therakyatpost - 🏆 14. / 59 Read more »

Rhinos edge Kuala Lumpur to clinch Sabah Maju Jaya CupKota Kinabalu: Sabah FC edged KL City FC 1-0 in the final to win the Sabah Maju Jaya Cup at Likas Stadium on Sunday.
Source: DailyExpress_MY - 🏆 3. / 83 Read more »