Forex
Ringgit Edges Up Ahead of Key Central Bank Meetings
The ringgit opened higher against the US dollar on Tuesday ahead of key central bank meetings. At 8 am, the local currency edged up to 4.0705/0775 against the greenback from yesterday's close of 4.0735/0770.
According to Dr Mohd Afzanizam Abdul Rashid, Bank Muamalat Malaysia Bhd chief economist, 'the market focus is on the upcoming Federal Open Market Committee (FOMC) meeting and Bank of Japan (BoJ) policy decisions.'
'Therefore, ahead of the FOMC and BoJ meetings this week, the ringgit is likely to stay cautious,' he added.