Ringgit stays lower against US dollar ahead of Fed rate decision

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KUALA LUMPUR: The ringgit continued its downtrend today to end lower against the greenback for the third consecutive day ahead of a decision on US interest rates tomorrow and as Japan made its first rate hike in 17 years, an analyst said.

Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the US Dollar Index rose 0.30 per cent to 103.893 points ahead of the US Federal Reserve decision on interest rates, weakening the local note.

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