Ringgit Ends Mixed Amid US Rate Hike Uncertainty

The Malaysian ringgit ended mostly higher against major currencies on September 17, but weakened against the US dollar. The local currency fell to 4.0965/1010 against the greenback from Tuesday's close of 4.0835/0880. This comes after investors digested the US Federal Reserve's (Fed) latest interest rate decision.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said that the Fed is unlikely to be done with its 25-basis-point rate hike yesterday, with further increases potentially on the horizon. He stated that the US central bank remains committed to bringing inflation back to its two per cent target.