KUALA LUMPUR, Oct 4 — The ringgit opened marginally higher against the US dollar on Wednesday as global investors digest market news that sends mixed signals as to the US...
KUALA LUMPUR, Oct 4 — The ringgit opened marginally higher against the US dollar on Wednesday as global investors digest market news that sends mixed signals as to the US Federal Reserve’s next course of action, said Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid.
“The US Dollar Index continued to head north as the Fed appears to be the outlier in respect to the pace of interest rate hike as other central banks seems to have reach their terminal rates,” he told Bernama. The local currency rose against the euro to 4.9409/9461 from 4.9500/9542 on Tuesday and appreciated vis-a-vis the British pound to 5.6999/7059 from 5.7031/7079.The ringgit was also traded mixed against other Asian currencies.
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