KUALA LUMPUR, 20 SEP: The ringgit opened lower against the US dollar in the early session today as traders awaited the outcome of this week’s US Federal Reserve (Fed) meeting.
At 9:15 am, the Ringgit was quoted at 4.1365/1400 versus the greenback against 4.1330/1390 on Monday.
A dealer said while some quarters expect the Fed to leave interest rates unchanged at its two-day meeting starting today, the tendency for Fed officials to hint at another rates hike is still intact.
“After a hike in rates last December for the first time since the financial crisis, the Fed might lift them again based on recent improving job figures in the country,” he added.
The local note was traded lower against other major currencies except the Yen.
It weakened against the Singapore Dollar to 3.0353/0390 from 3.0303/0351 on Monday but strengthened against the Yen to 4.0566/0612 from 4.0575/0646.
The Ringgit eased against the British Pound to 5.3940/3990 from 5.3936/4018 and declined against the Euro to 4.6221/6277 from last Monday’s 4.6157/6228 close.
Ringgit trading at 4.1365/1400 against the US Dollar
