Ringgit rises as US$ index declines on Fed rate cut hopes

KUALA LUMPUR: The ringgit continued to strengthen against the US dollar, driven by a decline in the US Dollar Index (DXY), as investors anticipated potential rate cuts by the Federal Reserve, according to an analyst.

At 8 am, the ringgit improved to 4.3755/3840 against the US dollar, up from 4.3780/3850 at Tuesday's close.