KUALA LUMPUR – The ringgit opened lower against the US dollar this morning as market participants awaited for more signals from the US Federal Reserve ahead of the Jackson Hole symposium, said an analyst.
At 9am, the local note fell to 4.6555/6590 against the greenback from 4.6465/6495 at yesterday’s close.
The symposium in Wyoming – a yearly gathering of global central bankers – would be closely monitored, in particular the speech by Fed chairman Jerome Powell on how US monetary policy would evolve going forward.
The event will commence from tomorrow until this Saturday.
Meanwhile, Bursa Malaysia opened higher but turned lower thereafter on a lack of catalysts.
At 9.30am, the FTSE Bursa Malaysia KLCI fell 5.88 points to 1,445.65 from 1,451.53 at yesterday’s close, after opening 0.1 of-a-point better at 1,451.63.
On the broader market, decliners outpaced gainers 251 to 186, while 336 counters were unchanged, 1,579 untraded and 12 others suspended. – Bernama, August 23, 2023
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