Market concerns over US interest rate may halt ringgit uptrend

The main underlying issue continues to revolve around a possible earlier interest rate hike in the US with a slew of Federal Reserve officials rooting for the removal of monetary policy accommodation. As such, the US FOMC meeting starting tomorrow will be the main focus, Bank Islam Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid told Bernama.

KUALA LUMPUR: The ringgit is expected to linger at the current 4.18 level versus the United States dollar as investors would be weighing on the outcome of the United States Federal Open Market Committee (FOMC) meeting this week.

The main underlying issue continues to revolve around a possible earlier interest rate hike in the US with a slew of Federal Reserve officials rooting for the removal of monetary policy accommodation.