The ringgit opened stronger against the US dollar today, buoyed by improving market sentiment as US-China trade tensions ease. As of 8:01 am, it rose to 4.3045/3245 from yesterday’s close of 4.3185/3250.
Ringgit Rises Against US Dollar as Inflation Eases in US
Bank Muamalat Chief Economist Dr Mohd Afzanizam Abdul Rashid said a lower-than-expected US inflation rate has signaled easing price pressures, paving the way for potential interest rate cuts by the US Federal Reserve.
He added that weaker US business sentiment could also support this policy shift. Afzanizam expects the ringgit to trade between 4.32 and 4.33 today, noting its resilience despite recent declines and positive momentum against other Asian currencies.
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