Forex
Ringgit Edges Up Against US Dollar Ahead of FOMC Meeting
The Malaysian ringgit rose against the US dollar at the opening of trading on Monday, September 14, as markets prepared for the upcoming Federal Open Market Committee (FOMC) meeting.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid attributed the increase to cautious market sentiment and the influence of the Bank of Japan's interest rate decision on September 18.
The ringgit strengthened to 4.0630/0730 against the greenback from last Friday's close of 4.0685/0725, and traded higher against ASEAN currencies such as the Singapore dollar, Thai baht, and Indonesian rupiah.