{
  "id": 16177667,
  "title": "Ringgit closes lower against US dollar amid AI stock concerns",
  "url": "https://urgent.news/2026/10/23/ringgit-closes-lower-against-us-dollar-amid-ai-stock-concerns",
  "topic": "ai",
  "section": "AI",
  "published": "2026-10-23T10:34:00.000Z",
  "source": {
    "name": "Free Malaysia Today",
    "slug": "free-malaysia-today-freemalays",
    "url": "https://www.freemalaysiatoday.com/category/business/2026/10/23/ringgit-closes-lower-against-us-dollar-amid-ai-stock-concerns"
  },
  "original_language": "en",
  "account": "At the close of trading on Friday, the Malaysian ringgit slipped slightly against the US dollar, reflecting cautious market sentiment driven by concerns over AI-related stocks and falling bond yields. The US Treasury yields experienced a decline on Thursday as investors sought refuge in government bonds. By 6 pm, the ringgit was trading at 4.0835/4.0875 against the US dollar, marking a modest decrease from Thursday's close of 4.0815/4.0850. Afzanizam Rashid, Chief Economist of Bank Muamalat Malaysia Bhd, highlighted the US dollar-ringgit pair's intraday range between 4.0813 and 4.0865 during the day. Investors were exercising caution ahead of the upcoming Federal Open Market Committee statement and press conference, anticipating that interest rates would remain steady at 3.75% to 4.00%. Despite the ringgit's overall weakness, it demonstrated relative strength against certain currencies. It strengthened against the British pound, climbed against the euro, and exhibited positive movement against major regional currencies like the Singapore dollar and Indonesian rupiah. However, it faced a decline against the Japanese yen and remained unchanged against the Philippine peso.",
  "summary": "Investors remained cautious ahead of next week’s Federal Open Market Committee statement, despite expectations that interest rates would remain unchanged, says an analyst.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}