‘This isn’t why I brought my mom to Malaysia,’ says son of woman who fell into Jalan Masjid India sinkhole
Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said market participants are waiting for the United States Federal Reserve chair Jerome Powell’s speech at the Jackson Hole Symposium tonight for further confirmation of a potential rate cut next month. Mohd Afzanizam noted that the ringgit has continued to strengthen, adding that the local currency was also firmer against other major currencies, including the euro, British pound, and the Singapore dollar.“This calls for caution, as if the speech turns out to be uneventful, the US dollar could reverse its losses. It’s a delicate situation since the ringgit has appreciated by 0.17 per cent on a week-on-week basis,” he told Bernama.
“The current resistance level is at RM4.3000, and given the positive economic data for Malaysia, the pair might be heading in that direction,” he said.The local currency strengthened against the Japanese yen to 2.9914/9956 from 3.0051/0082 at the close yesterday, improved vis-a-vis the euro to 4.8604/8665 from 4.8744/8789 yesterday and appreciated against the British pound to 5.7391/7463 from 5.7431/7483 previously.The ringgit gained against the Singapore dollar to 3.3410/3454 from 3.