KUALA LUMPUR: The ringgit opened easier against the US dollar on Monday as investors remained on the sidelines in anticipation of a number of significant global events and data points, including the upcoming Federal Open Market Committee meeting.Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the FOMC is set to meet on April 30 and May 1, and markets are expecting no change in rates and the committee’s tone.
"On that note, the ringgit is likely to stay weak and the US dollar is expected to remain strong relative to other major economies’ currencies,” he told Bernama.The ringgit gained versus the Japanese yen to 3.0154/0216 from 3.0408/0451 at Friday’s close and improved against the euro to 5.1098/1200 from 5.1157/1221 at the end of last week, but it slipped vis-a-vis the British pound to 5.9711/9829 from 5.9644/9719 previously.It appreciated versus the Thai baht to 12.8782/9084 from 12.
However, it declined against the Philippine peso to 8.27/8.29 from 8.26/8.27 on Friday and fell versus the Singapore dollar to 3.5033/5105 from 3.5021/5068 previously. - Bernama
Ringgit US Dollar US Data Mohd Afzanizam Abdul Rashid FOMC Interest Rates
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