Ringgit may get a reprieve from US rate cuts

At 9.06 am (0106 gmt), the ringgit stood at 4.1340/1390 against the greenback from 4.1300/1350 recorded at the close Tuesday.

THAT the US Federal Reserve is open to interest rate cuts despite strong jobs numbers for June indicates that the gloomy global outlook is not improving anytime soon.

While many are factoring in a US “insurance” rate cut of 25 basis points (bps) or 0.25% this month, they are on the lookout for possibly more aggressive rate cuts.