The Malaysian ringgit weakened slightly against the US dollar at Thursday’s opening, following the release of FOMC minutes that hinted at a possible interest rate hike. At 8am, the ringgit stood at 3.8965/9160 versus the greenback, down from 3.8945/9055 on Monday.
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Ringgit Slips Against USD
Bank Muamalat chief economist Dr Mohd Afzanizam Abdul Rashid noted the US Dollar Index rose 0.57% to 97.712 points. Despite this, the ringgit is expected to hover between RM3.89 and RM3.91 due to strong domestic data. The ringgit also strengthened against major currencies and most ASEAN peers, except the Philippine peso, where it slipped slightly to 6.73/6.77.
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