CAUTIOUS market sentiment and a lack of local catalysts have led the ringgit to trade easier against the US dollar at the opening today.
At 8am, the ringgit weakened to 4.4530 from 4.4410/4480 at yesterday’s close.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said traders and investors are cautious ahead of the release in the United States (US) Personal Consumption Expenditures (PCE) inflation data tonight, the Federal Reserve’s preferred inflation gauge.
“On that note, ringgit could stay weak today, with US dollar-ringgit pair likely hovering around its immediate resistant level of RM4.45,” he told Bernama. – February 28, 2025
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