From Malay Mail · · 1m
Ringgit Weakens Against Dollar, Strengthens Against Currencies
Malaysian ringgit dips against US dollar but rises against most Asian currencies ahead of Fed meeting.
In brief
Malaysian ringgit dips against US dollar but rises against most Asian currencies ahead of Fed meeting. Malaysian ringgit closed lower against US dollar but stronger against most major currencies as investors awaited Fed policy decisions. Originally reported by Malay Mail.
Ringgit Closes Lower Against Dollar
The ringgit eased to 4.0855/0895 against the greenback from Friday’s close of 4.0835/0875.
Investors Cautious Ahead of Fed Meeting
Analysts noted investors remained cautious ahead of the US Federal Reserve’s policy meeting on October 28.
Trump’s Stance on Iran Points to Oil Risks
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid cited US President Donald Trump’s hawkish stance towards Iran as a factor for higher crude oil prices.
Ringgit Strengthens Against Major Currencies
The ringgit strengthened against the British pound to 5.4517/4570 and the Japanese yen to 2.5961/5988 from Friday’s close.
Ringgit Gains Against Asean Currencies
The ringgit advanced against Singapore dollar, Indonesian rupiah, Thai baht, and Philippine peso from Friday’s rates.
The main idea
Malaysian ringgit closed lower against US dollar but stronger against most major currencies as investors awaited Fed policy decisions.
