The ringgit opened marginally weaker against the US dollar this morning, trading at 4.1120/1220, compared with 4.1100/1145 at yesterday's close, as market participants awaited the start of the Federal Open Market Committee (FOMC) two-day meeting.
Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid noted that the US Dollar Index (DXY) rose 0.10% to 99.087 points ahead of the meeting.
"US Treasury bond yields were also higher as fixed income traders and investors become increasingly wary about what could be said and projected when the FOMC meeting concludes tomorrow," he told Bernama.
He added that a 25-basis-point US rate cut is widely expected, based on current labour market, business, and consumer data, though the interest rate path for 2026 remains uncertain. "The new Fed chairman could lean towards monetary easing," he said.
At the opening, the ringgit also weakened slightly against the British pound to 5.4797/4930 from 5.4729/4789, edged down versus the euro to 4.7868/7984 from 4.7873/7926, but rose modestly against the Japanese yen to 2.6384/6450 from 2.6429/6460.
Against regional currencies, the ringgit strengthened versus the Singapore dollar to 3.1687/1769 from 3.1698/1735 and advanced against the Thai baht to 12.8822/9224 from 12.9006/9204, while slipping slightly against the Indonesian rupiah to 246.2/247.0 from 246.1/246.5. It remained largely unchanged against the Philippine peso at 6.97/7.00.
Bernama
