Ringgit weakens as US Fed signals tighter policy

KUALA LUMPUR: The ringgit extended yesterday’s losses against the US dollar at opening today after the release of the Federal Open Market Committee (FOMC) meeting minutes, which indicated that the US economy was improving rapidly and could lead to a tighter monetary policy.

At 9am, the local currency was traded at 4.1410/1460 against the greenback from Thursday’s close of 4.1360/1400.