KUALA LUMPUR: The ringgit closed firmer against the US dollar today as the greenback slipped following the Federal Reserve’s (Fed) decision to leave interest rates unchanged.
As at 6pm, the local note was traded at 4.1580/1610 to the dollar compared with yesterday’s close of 4.1630/1660.
Axi Trader Asia-Pacific market strategist Stephen Innes said the Fed’s decision dragged down the US dollar, which fell to its weakest level against the major currencies since Aug 9 with the Dollar Index down 0.33%.
Meanwhile, he said, the investors also remained cautious ahead of the next round of US tariffs on Chinese goods.
The US President Donald Trump has set Dec 15 as the date to impose tariffs on nearly US$160 billion worth of Chinese consumer goods.
“Trump is likely to meet with his top trade and economic advisers later today to discuss it. But ultimately, the decision rests with Trump himself,” he told Bernama.
At the close, the ringgit was traded mostly lower against other major currencies.
The local currency was slightly higher against the yen to 3.8256/8287 from 3.8298/8333 but fell against the Singapore dollar to 3.0646/0672 from 3.0613/0639 on Wednesday.
It also declined versus the euro to 4.6262/6308 from 4.6139/6180 and slipped against the British pound to 5.4815/4871 from 5.4689/4745. - Bernama
