RINGGIT FIRMER AGAINST US DOLLAR IN EARLY TRADE
KUALA LUMPUR, The ringgit has strengthened against the US dollar in the early trade today, buoyed by expectations of a global interest rate cut which has been dampening sentiment towards the greenback, an analyst said. At 9 am, the ringgit rose to 4.6900/6970 versus the US dollar from yesterday’s close of 4.6985/7010. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the US Dollar Index (DXY) fell as the United States (US) Federal Reserve (Fed) chair Jerome Powell indicated that a rate cut would happen without needing to wait for the country’s inflation to be lower than