KUALA LUMPUR: The ringgit opened lower against the US dollar today as investors shifted their attention to incoming US economic data, maintaining confidence that the US Federal Reserve (Fed) will move ahead with a 25-basis-point rate cut after its two-day meeting concludes later tonight.
At 8am, the local currency stood at 4.1140/4.1250 against the greenback, compared with 4.1105/4.1165 at yesterday’s close.
Bank Muamalat Malaysia Bhd chief economist, Afzanizam Rashid, said the US Dollar Index (DXY) edged up 0.13% to 99.220 amid mixed labour-market signals.
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