An elevated inflation rate would indicate the Federal Reserve will lean on the hawkish side, says analyst.
KUALA LUMPUR: The ringgit fell against the US dollar today ahead of tonight’s key US inflation data, analysts said.
“Markets are expecting the Federal Reserve to keep the federal funds rate unchanged during the Federal Open Market Committee meeting next week. Meanwhile, AmBank Group’s economic research division in a note today said that the short-term resistance for the US dollar-ringgit falls at between 4.710 and 4.730, with support between 4.630 and 4.640.Meanwhile, the ringgit rose against the Japanese yen as traders digested comments from Japan’s top central banker on a possible early exit from its negative interest rate policy.
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