KUALA LUMPUR: The ringgit opened slightly higher against the US dollar and other major currencies on the rising expectation that the US Federal Reserve would not raise interest rates when it meets next week.
“The forecasts will provide more insight into their future monetary policy direction for the near term and next year. While the Fed may also maintain its current stance, market sentiment remains uncertain this time,” he told Bernama. At 9.05am, the local note climbed to 4.6720/4.6770 against the greenback from Monday’s close of 4.6725/4.6760.It rose against the British pound to 5.8414/5.8477 from 5.8551/5.8595 at Monday’s close and climbed against the Japanese yen to 3.1852/3.1888 from 3.1855/3.1881.The local note also traded mostly firmer against other Asean currencies.
Source: News Formal (newsformal.com)