KUALA LUMPUR: The ringgit closed higher against the greenback yesterday as investors’ risk appetite improved ahead of US inflation data, with sentiment supported by the Budget 2027 announcement last week.
At 6pm, the ringgit rose to 4.0805/0850 against the greenback from Tuesday’s close of 4.0835/0880.
Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said market sentiment appeared to be focused on the US consumer price index data due later yesterday night.
“The US inflation rate is expected to accelerate to 3.6% in September based on consensus estimates.
“The reading is key as it will shape the Federal Open Market Committee’s decision (later) this month,” he told Bernama.
At the close, the ringgit traded lower against a basket of major currencies.
