Ringgit Holds Steady Ahead of US CPI Data Release

The ringgit opened steady against the US dollar on Thursday as investors awaited the release of the US Consumer Price Index (CPI) data.

At 8am, the local currency was unchanged at 4.0670/0720 against the greenback from Wednesday's close.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the US CPI data would influence expectations for the United States Federal Reserve's interest rate path and could weigh on market sentiment.