RINGGIT CONTINUES TO SOAR ON POTENTIAL RATE CUT IN THE US
KUALA LUMPUR, The ringgit continued to soar and touched a fresh six-month high at the opening today, as the potential of the United States (US) interest rate cut continued to propel the local note. At 8 am, the ringgit nudged to 4.6605/6660 against the greenback from yesterday’s close of 4.6625/6660. The local note previously reached a six-month high against the US dollar last Friday at 4.6630. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the US Federal Reserve (Fed) governor Christopher Waller has indicated that the time for a rate cut is approaching. Besides, he said