{
  "id": 4981835,
  "title": "Ringgit opens lower vs greenback amid higher oil prices, Fed rate hike bets",
  "url": "https://urgent.news/2026/09/02/ringgit-opens-lower-vs-greenback-amid-higher-oil-prices-fed-rate-hike",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-02T00:47:49.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/business/economy/2026/09/1523935/ringgit-opens-lower-vs-greenback-amid-higher-oil-prices-fed-rate"
  },
  "original_language": "en",
  "account": "At 8am on Wednesday, the Malaysian ringgit started the trading day lower against the US dollar, reflecting the impact of rising Brent crude oil prices, which increased concerns about inflation and heightened expectations of a potential US Federal Reserve rate hike, according to an analyst. The ringgit weakened to 4.0380/0445 from Tuesday's close of 4.0370/0410.\n\nDr Mohd Afzanizam Abdul Rashid, chief economist at Bank Muamalat Malaysia Bhd, pointed out that the resumption of military clashes between the United States and Iran, which drove up Brent crude oil prices, was the primary concern for traders and investors. The focus remained on geopolitical risks, as they continued to dominate the market.\n\nBrent crude was trading up 0.78 percent at US$95.46 a barrel at the time of the report. Dr Afzanizam noted that the heightened fears of higher inflation and the increased likelihood of a Fed rate hike had supported the value of the US dollar. The US dollar index (DXY) rose 0.25 percent to 99.677 points, with the probability of a higher US interest rate at the September Federal Open Market Committee meeting increasing to 65 percent, he told Bernama.\n\nAs a result, Dr Afzanizam anticipates that the ringgit will trade cautiously around 4.03 to 4.05 throughout the day. Upon opening, the ringgit outperformed a basket of major currencies, rising against the Japanese yen to 2.5203/5245 from 2.5223/5250 at Tuesday's close, strengthening against the British pound to 5.4561/4649 from 5.4657/4711, and appreciating against the euro to 4.6800/6876 from 4.6801/6847. However, the local note was mixed against regional currencies, falling against the Singapore dollar to 3.1705/1761 from 3.1703/1736, remaining flat against the Indonesian rupiah at 227.5/228.0, and staying unchanged against the Thai baht at 12.1188/1438.",
  "summary": "KUALA LUMPUR: The ringgit opened lower against the US dollar on Wednesday amid higher Brent crude oil prices, which heightened inflation concerns, boosting expectations of a US Federal Reserve (Fed) rate hike, said an analyst.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 4,
    "also_reported_by": [
      {
        "outlet": "FXStreet",
        "title": "Gold slumps below $4,350 on higher US yields, hawkish Fed bets",
        "url": "https://urgent.news/2026/09/01/gold-slumps-below-4-350-on-higher-us-yields-hawkish-fed-bets",
        "published": "2026-09-01T23:28:14.000Z"
      },
      {
        "outlet": "Free Malaysia Today",
        "title": "Ringgit opens lower amid higher oil prices, Fed rate hike bets",
        "url": "https://urgent.news/2026/09/02/ringgit-opens-lower-amid-higher-oil-prices-fed-rate-hike-bets",
        "published": "2026-09-02T00:38:00.000Z"
      },
      {
        "outlet": "The Business Times - Companies & Markets",
        "title": "Gold tumbles 2.5% to two-week low as global yields rise, US Fed rate-hike bets mount",
        "url": "https://urgent.news/2026/09/02/gold-tumbles-2-5-to-two-week-low-as-global-yields-rise-us-fed-rate",
        "published": "2026-09-02T01:24:34.000Z"
      }
    ]
  },
  "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."
}