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Forex

Ringgit Edges Higher Against US Dollar Amid Cautious Sentiment

Guavy AI Editorial Team
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USD CHF
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The ringgit opened higher against the US dollar on Friday amid cautious sentiment ahead of signals from the United States Federal Reserve (US Fed) at the annual Jackson Hole Symposium.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said market participants are likely to remain watchful of the tone adopted by policymakers at the symposium, particularly comments from US Fed officials.

At 8.01 am, the local currency rose to 4.0255/0345 against the greenback from Thursday's close of 4.0305/0350.

Mohd Afzanizam expects the ringgit to stay in a narrow range today.

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