Ringgit eases against US dollar


KUALA LUMPUR: The ringgit ended at its lowest since early January 2017 against the US dollar as risk-off sentiment gathered pace after the US Federal Reserve’s (Fed) July meeting minutes suggested that the trend toward higher interest rates would continue.

The Fed said inflation remains high despite aggressive rate hikes, reaffirming its plans to continue raising interest rates to combat elevated inflation.

At 6pm, the local currency dipped to 4.4720/4750 against the greenback from Wednesday’s close of 4.4660/4685. — Bernama

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