Ringgit ends mixed ahead of Fed meeting
Investors stayed cautious ahead of the US Federal Reserve’s policy meeting, says analyst.
KUALA LUMPUR: The Malaysian ringgit ended mixed as market participants remained cautious ahead of the US Federal Reserve's policy meeting, an analyst noted. Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid explained that the hawkish stance of US President Donald Trump on Iran may imply upside risks to oil prices, a factor critical for the Federal Open Market Committee's decision-making on October 28.
At 6 PM, the ringgit fell to 4.0855/4.0895 against the US dollar, from Friday's close of 4.0835/4.0875. The ringgit showed strength against the British pound and the Japanese yen, but weakened against the euro, Singapore dollar, Indonesian rupiah, Thai baht, and Philippine peso.
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- Ringgit ends mixed ahead of Fed meeting freemalaysiatoday.com