Ringgit ends lower against US dollar as Fed rate hike debate intensifies
KUALA LUMPUR, Sept 4 — The ringgit finished lower against the US dollar on Friday as the market closely monitors t...
KUALA LUMPUR, Sept 4 — The Malaysian ringgit closed lower against the US dollar on Friday as market observers braced for the Federal Open Market Committee's deliberations on potential interest rate hikes. This follows the recent hawkish comments from Fed Chair Kevin Warsh during the Jackson Hole symposium, which have heightened expectations of a rate increase later in September.
At 6pm, the ringgit was trading at 4.0425/0465 against the US dollar, a slight decline from Thursday's closing rate of 4.0405/0445. Despite market volatility, Bank Muamalat Malaysia Bhd economist Dr Mohd Afzanizam Abdul Rashid noted that the currency remained relatively stable. However, the ringgit faced pressure against major currencies such as the euro, British pound, Japanese yen, Philippine peso, Singapore dollar, Thai baht, and Indonesian rupiah, reflecting the broader uncertainty surrounding the Fed's monetary policy decisions.
Written by urgent.news from Malay Mail's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- Markets snap four-day losing streak as Fed rate hike fears ease thehindubusinessline.com
