KUALA LUMPUR: The ringgit closed lower against the greenback and other major currencies yesterday as investors remained cautious ahead of next week’s two-day US Federal Open Market Committee (FOMC) meeting.
This came amid a decline in US Treasury yields and the US Dollar Index (DXY).
At 6pm, the ringgit eased to 4.0815/0850 against the greenback from Wednesday’s close of 4.0790/0825.
Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said market participants’ reassessment of next week’s FOMC decision drove movements in the US DXY, with traders likely to focus on the accompanying FOMC statement for clues on a possible rate hike in December. —Bernama
