Ringgit Sustains Positive Momentum Versus US Dollar Ahead Of US Rate Decision
KUALA LUMPUR,, The ringgit opened firmer against the US dollar, hitting the RM4.61 level for a fresh seven-month high, and economists anticipate a further strengthening as investors await the outcome of the Federal Open Market Committee’s (FOMC) two-day meeting later today. At 8.01 am, the ringgit rose to 4.6180/6235 against the greenback from Tuesday’s close of 4.6330/6400. A boost in global market sentiment and strong domestic economic prospects have bolstered the local currency. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the decline in US Treasury yields, which fell four basis points, indicated that more investors