Ringgit closes higher against greenback on expectation us rate hike cycle is over

KUALA LUMPUR: The ringgit closed higher against the US dollar today on the expectation that US interest rate hikes are over after dovish comments by US Federal Reserve (Fed) chairman Jerome Powell on Friday.

Also at play are the nonfarm payrolls data (NFP) and the jobless rate in the United States for November to be released this week which could further influence the outlook for US interest rates, especially concerning hopes for an early rate cut.