KUALA LUMPUR, NOV 15: The ringgit opened unchanged against the US Dollar today, despite growing expectations over the United States Federal Reserve (Fed) raising interest rates next month.
At 9.20 am, the local unit’s onshore trading stood at 4.3250/3350 against the greenback, reported BERNAMA.
FXTM Research Analyst Lukman Otunuga said the US Dollar’s appreciation was complimented by optimism following announcement of bolstering spending and reviving inflation by the administration of the President-elect Donald Trump, a move seen as supporting economic growth in the US.
“Sentiment is heavily bullish towards the US Dollar and there is an 81 per cent probability of a rate hike before year-end,” he added in a statement.
He said the attention today may be directed towards US retail sales figures, which, if exceeds expectations, may add to the pool of economic data which continue to display signs of economic stability in the US.
The local unit was traded mostly lower against other major currencies.
It depreciated against the Singapore Dollar to 3.0643/0719 from 3.0548/0632 on Monday and against the British Pound to 5.4058/4196 from 5.3972/3114.
The Ringgit eased against the Euro to 4.6563/6675 from 4.6520/6636 previously, but, rose marginally against the Yen to 4.0076/0187 from 4.0087/0210.
Ringgit traded at 4.3250/3350 against US Dollar
