Ringgit ends higher ahead of Warsh’s Jackson Hole speech

The ringgit closed higher against the US dollar on Friday, ahead of US Federal Reserve (Fed) Chair Kevin Warsh's speech at the Jackson Hole Symposium. The currency rose to 4.0230/4.0270 against the greenback, up from Thursday's close of 4.0305/4.0350. Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid noted that traders would be closely watching Warsh's address for insights into the Fed's policy direction as the Federal Open Market Committee (FOMC) convenes on September 15-16.

Rashid suggested that Warsh is likely to emphasize the Fed's commitment to price stability and maximum employment, leaving the future trajectory of interest rates uncertain.

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