Market expects Federal Reserve will keep interest rate unchanged following inflation data, says analyst.
KUALA LUMPUR: The ringgit continued to close lower against the US dollar as demand for the greenback rose amidst expectations that the Federal Reserve would keep its interest rate at the current level, said an analyst.
Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said markets are also mulling on whether the Fed would change its stance in light of the lower core US consumer price index data. “Sentiments may also be influenced by the Japanese yen, which continued to decline against the US dollar despite the hawkish statement by the Bank of Japan’s governor last weekend,” he told Bernama.
At 6pm, the local note slid to 4.6825/4.6850 against the greenback from yesterday’s close of 4.6785/4.6835.It weakened against the Japanese yen to 3.1769/3.1789 from 3.1742/3.1778 on Wednesday’s close, fell versus the British pound to 5.8405/5.8436 from 5.8308/5.8370 yesterday and was lower against the euro at 5.0234/5.0261 from 5.0200/5.0254 previously.It declined vis-à-vis the Singapore dollar to 3.4402/3.4423 from 3.4358/3.
The ringgit was almost flat against the Philippine peso at 8.25/8.26 versus 8.24/8.26 yesterday, but traded better against the Thai baht at 13.0792/13.0902 from 13.0809/13.1003 previously.
Italia Ultime Notizie, Italia Notizie
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