KUALA LUMPUR, Jan 25 — The ringgit slipped further against the US dollar at close today as the greenback, a safe haven currency, strengthened amid rising geopolitical risks in Eastern Europe, while investors await the outcome from the US Federal Open Market Committee meeting, dealers said.
ActivTrades trader Dyogenes Rodrigues Diniz said investors have been undecisive ahead of the interest rate decision by the US central bank, which is due tomorrow. “If this indeed happens, the US dollar could rise substantially in the coming days against the ringgit. This would also signal a major shift in the US central bank’s positioning from dovish to hawkish in its monetary policy,” he told Bernama.
Meanwhile, the local note was traded mostly higher against a basket of other major currencies except the Singapore dollar.
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