Ringgit Gains Amid US Rate Hike Expectations

The Malaysian ringgit opened higher against the US dollar on September 9 as the greenback weakened.

Economists expect interest rate hikes in both the United States and Japan, with the Federal Reserve meeting to discuss its benchmark rate on September 15-16.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said higher US Treasury yields suggest a potential increase in the benchmark interest rate.

The Japanese yen strengthened against the US dollar, reflecting growing expectations that the Bank of Japan could raise its policy rate.