KUALA LUMPUR: The ringgit closed almost flat against the US dollar today as investors remained cautious over the mixed signals from the global economic outlook, a dealer said.
At 6pm, the ringgit stood at 4.1320/1370 against the greenback compared with 4.1320/1350 at Monday’s close.
Another dealer said that the main highlight for the outlook on the US dollar remained the outcome of the US Federal Reserve’s two-day policy meeting which ends on Wednesday, with a statement and news conference by Chairman Jerome Powell.
The dealer said investors were waiting to know how Powell resolves the divergence between solid economic growth and slowing inflation.
Meanwhile, he said that the US data overnight showed consumer spending enjoyed the sharpest rebound in March, but core inflation fell to a 14-month low.
Meanwhile, the ringgit was traded lower against other major currencies.
It fell against the Singapore dollar to 3.0362/0410 from 3.0349/0382 on Monday and depreciated versus the British pound to 5.3662/3744 from 5.3452/3507.
The local currency weakened vis-a-vis the yen to 3.7118/7170 from 3.6982/7019, and declined against the euro to 4.6311/6384 from 4.6113/6163. — Bernama
