{
  "id": 17054669,
  "title": "Ringgit extends gains against US dollar after Fed holds rates",
  "url": "https://urgent.news/2026/10/29/ringgit-extends-gains-against-us-dollar-after-fed-holds-rates",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-29T10:48:07.000Z",
  "source": {
    "name": "Malay Mail",
    "slug": "malay-mail-malaymail",
    "url": "https://www.malaymail.com/news/money/2026/10/29/ringgit-extends-gains-against-us-dollar-after-fed-holds-rates/241167"
  },
  "original_language": "en",
  "account": "KUALA LUMPUR, Oct 29 — The ringgit strengthened against the US dollar following the US Federal Reserve’s decision to maintain the benchmark interest rate at 3.75% to 4.00% on Wednesday, according to an analyst. By 6pm, the currency reached 4.0575/0620 against the greenback, up from its previous close of 4.0745/0790. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid noted that investors would be keeping an eye on the Fed’s preferred inflation gauge, the Personal Consumption Expenditures (PCE) price index, expected to release its September figure later that day. The index is forecasted to increase to 3.1% in September from 3.0% in the preceding month. Rashid suggested that the US Fed may resume its rate-hiking cycle in December, given the inflation's anticipated persistence in the short term. However, he emphasized that monetary policy decisions are still fluid, and the anticipation of a 25 basis point hike in December was not a certainty. This is particularly true when consumers' confidence remains low due to the higher cost of living, which could lead to reduced spending at some point, Rashid explained to Bernama. The ringgit also exhibited gains against major currencies such as the British pound, euro, Japanese yen, Singapore dollar, Indonesian rupiah, Thai baht, and Philippine peso.",
  "summary": "KUALA LUMPUR, Oct 29 — The ringgit continued its gains to end higher against the US dollar today, following the US...",
  "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."
}