{
  "id": 17051092,
  "title": "Ringgit extends gains against US dollar after Fed holds interest rates",
  "url": "https://urgent.news/2026/10/29/ringgit-extends-gains-against-us-dollar-after-fed-holds-interest-rates",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-29T10:36:00.000Z",
  "source": {
    "name": "Free Malaysia Today",
    "slug": "free-malaysia-today",
    "url": "https://www.freemalaysiatoday.com/category/business/2026/10/29/ringgit-extends-gains-against-us-dollar-after-fed-holds-interest-rates"
  },
  "original_language": "en",
  "account": "KUALA LUMPUR: The Malaysian ringgit extended its gains against the US dollar on Thursday after the US Federal Reserve decided to keep its benchmark interest rate unchanged at 3.75% to 4%, according to an analyst. At 6pm, the ringgit reached 4.0575/4.0620 against the US dollar, up from yesterday's close of 4.0745/4.0790. Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid stated that investors would be closely watching the US Federal Reserve's preferred inflation gauge, the Personal Consumption Expenditures (PCE) price index, which is expected to increase to 3.1% in September from 3% the previous month. Rashid predicted that the US Fed might resume its rate-hiking cycle in December as inflation is anticipated to remain high in the near term. However, he emphasized that monetary policy decisions remain fluid, and the expectation of a 25 basis point hike in December was not guaranteed. This is particularly true considering that consumers' confidence remains weak due to the higher cost of living, which could lead to reduced spending at some point, he told Bernama. The ringgit showed strength against major currencies, including the British pound, euro, Japanese yen, Singapore dollar, Indonesian rupiah, Thai baht, and Philippine peso.",
  "summary": "Investors are awaiting the release of the US Federal Reserve’s preferred inflation measure, the PCE price index, due out tonight, says analyst.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 4,
    "also_reported_by": [
      {
        "outlet": "The Korea Times",
        "title": "Fed's hawkish hold strengthens case for BOK's hike in November",
        "url": "https://urgent.news/2026/10/29/feds-hawkish-hold-strengthens-case-for-boks-hike-in-november",
        "published": "2026-10-29T05:42:03.000Z"
      },
      {
        "outlet": "FXStreet",
        "title": "US Dollar: Fed hawkish hold fails to extend gains – DBS",
        "url": "https://urgent.news/2026/10/29/us-dollar-fed-hawkish-hold-fails-to-extend-gains-dbs",
        "published": "2026-10-29T08:31:19.000Z"
      },
      {
        "outlet": "New Straits Times",
        "title": "Ringgit extends gains against US dollar after Fed holds interest rates",
        "url": "https://urgent.news/2026/10/29/ringgit-extends-gains-against-us-dollar-after-fed-holds-interest-rates-17051765",
        "published": "2026-10-29T11:24:50.000Z"
      }
    ]
  },
  "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."
}