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Ringgit ends higher vs dollar ahead of US Federal Open Market Committee decision

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KUALA LUMPUR, Sept 20 — The ringgit ended higher against the US dollar today ahead of the US Federal Open Market Committee (FOMC) interest rate decision due later tonight. The...

KUALA LUMPUR, Sept 20 — The ringgit ended higher against the US dollar today ahead of the US Federal Open Market Committee interest rate decision due later tonight.

SPI Asset Management managing director Stephen Innes said traders have been buying US dollars for the past two months, so there was likely a minor position adjustment today, resulting in the ringgit closing firmer. “Hence if anything, the tail risk is for the US dollar to weaken if the Fed does not meet hawkish forward expectations,” he told Bernama.

 

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