KUALA LUMPUR: The ringgit finished higher against the greenback yesterday ahead of the release later yesterday of the US consumer price index (CPI) report for July, which is expected to provide further clues on the direction of interest rates in the United States.
At 6pm, the ringgit rose to 4.0835/0875 versus the US dollar from Tuesday’s close of 4.0905/0940.
Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid noted that the ringgit was well supported against the US dollar yesterday, while other Asian currencies were generally mixed against the greenback.
“Clearly, market participants were guarded as the US CPI will be published later tonight. Consensus estimates showed CPI inflation could come in at 3.4% in July versus 3.5% for June,” he told Bernama.
