KUALA LUMPUR: The ringgit strengthened further against the US dollar at the close following US Federal Reserve chair Jerome Powell’s comment on interest rate.On Tuesday, Powell indicated that the US central bank's next interest rate move is unlikely to be a hike after the release of a higher-than-expected US Producer Price Index for April, which climbed 2.2 per cent year-on-year.
"While the timing for a rate cut remains an open debate, at least we can safely rule out a rate hike by the Fed.
Source: Loan Digest (loandigest.net)
Ringgit US Dollar Mohd Afzanizam Abdul Rashid US PPI CPI
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