Ringgit slips against US dollar as investors await inflation data

KUALA LUMPUR, Oct 13 — As investors eagerly await tomorrow's US inflation data, the ringgit slipped slightly against the US dollar, an analyst said. At 6pm, the currency rate fell to 4.0835/0880 against the greenback from yesterday's level of 4.0820/0865. TA Securities' chief economist, Shazma Juliana Abu Bakar, noted that the forthcoming economic figures could shape expectations for the Federal Reserve's monetary policy stance and, in turn, affect the ringgit's short-term trajectory.

Despite this, she anticipates the ringgit to retain relative stability throughout the week, bolstered by investor optimism stemming from the 2027 Budget and the government's persistent focus on fiscal consolidation. Abu Bakar cautioned that rising geopolitical tensions in West Asia and high oil prices may increase global demand for the US dollar, positioning it as a safer currency during uncertain times.

Throughout the day, the ringgit was traded weaker against a range of major currencies, including the Japanese yen, British pound, euro, Indonesian rupiah, Singapore dollar, and Thai baht.